Total garbage which tells me just how much you know about bankruptcy re-orgs. The Creditors Committee is always appointed by the US Trustee pursuant to statute...11 USC 341(a). The US Trustee may appoint an Official Equity Committee but that is totally within the discretion of the U.S. Trustee. The bankruptcy court judge may also appoint an Official Equity Committee on motion of a party with standing, but only if it is determined the company is neither insolvent or hopelessly insolvent.
You don't even know the difference between creditors and equity holders, and preferreds are equity. Jeez.