Toy Association Creates Ad Hoc Creditors Committee for Toys “R” Us Bankruptcy

6a0133ec87bd6d970b01bb08fe52c6970d Toys_-R-_Us_logo.svg

The purpose of the Toy Association's "Ad Hoc Creditors Committee" will be to bring several hundred toy industry creditors together and thereby bring more attention to the concerns of toy industry creditors. 

The Toy Association is in the process of creating an  "Ad Hoc Creditors Committee" for toy industry non-secured creditors. The purpose of the committee will be to represent the interests of those not included in the court appointed "Unsecured Creditors Committee".

Why do we need an"Unsecured Creditors Committee"? "The Unsecured Creditors Committee's function is to represent all non-secured creditors and here is why:

The"Unsecured Creditors Committee" consists of nine members.

Mattel – Toys

Lego – Toys

Bank of New York – Banks

Huffy – Toys and Sport

Evenflo – Juvenile Products

Kimco Realty – Realty

Simon Property – Realty

Veritiv Operating Company – IT infrastructure

Euler Hermes – Insurance

The Unsecured Creditors Committee's function will be to determine who gets paid what. As you will notice, only three of the companies are from the toy industry. That means that the other members will be looking out for their prospective industry's concerns.

Therefore, the purpose of the Toy Association's "Ad Hoc Creditors Committee" will be to bring several hundred toy industry creditors together  and thereby bring more attention to the concerns of toy industry creditors. 

You can sign up for the committee by writing creditors@toyassociation.org. There is no charge to join.

You can learn more about the committee by clicking here.

For additional information you can find all of the court documents by clicking here.

In addition, there will be a webinar, "Creditors Rights Techniques to Minimize Risk and Maximize Recovery", on Thursday, Oct 12, 2:00 PM Eastern.  Learn more by clicking here. 

Leave a Reply