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 email@example.com. 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.