Never underestimate a scorned investor with a large percentage losing position. I would bet that there would even been shareholders with 1,000 shares who would push to get on the committee. It's empowering to them. I mean, even look at this committee, all the drama, all the "investigations" into "criminal activity", and their "great cases", all which have added up to much of nothing. I suspect some on the committee expected to get their most of their investment back since I imagine some were delusional enough to think all the debt was going to be wiped out.
The committee formed within the first 3 weeks of bankruptcy, by early November. I never saw a filing that listed requirements for application to the committee. I am not saying it doesn't exist, but I've read most of the documents when they were filed, and I don't remember seeing one with this.
