Membership of creditors' committees

Creditors' committees are regularly established in bank insolvency proceedings. Their duties entail supporting and monitoring the insolvency administrator, and having the monetary transactions and available cash verified.

The members of the creditors' committee are independent bodies representing the various groups of creditors, irrespective of the amount of the claims. Members of the creditors' committee must be able to facilitate the proceedings and contribute special expertise.

In the bank insolvency proceedings that have taken place to date, a managing director of EIS has been elected to the creditors' committee. Thanks to many years of experience, he is able comprehensively to fulfil the relevant control and monitoring duties and to expedite the proceedings. The creditors' committee meets periodically.