Replies to post #131441 on Mr Cooper Group Inc fka COOP

[Jestiron]

Yes....there is; however, a passage towards the end of that link that suggests that IF the U.S. Trustee decides NOT to appoint an EC, that relief may be obtained through the court. The verbiage suggests that the process would be longer without the formation via U.S.Trustee.

The Bankruptcy Code (11 U.S.C. § 1102(a)(1)) authorizes the appointment by the United States Trustee of additional committees, including a committee of equity security holders. If the United States Trustee declines to exercise the discretion to appoint a supernumerary committee, the court may order the appointment of a committee by the United States Trustee. 11 U.S.C. § 1102(a)(2). While there is no statutory requirement to do so, practitioners should be encouraged to submit requests for additional committees first to the United States Trustee prior to moving for relief from the court, as this may achieve the desired result without the need for litigation. If a party in interest moves the court for an order directing the appointment of a committee, the court can grant the relief only upon finding that the appointment of the additional committee is "necessary to assure adequate representation" of the movant's interests. In re Edison Bros. Stores, Inc., 1996 WL 534853 (D. Del. Sept. 17, 1996); In re Lykes Bros. S.S. Co., 200 B.R. 933 (M.D. Fla. 1996). If the court directs the appointment, the United States Trustee actually selects and appoints the committee.

AJest