LTL Says Official Committee of Talc Claimants Should be Terminated, Cites Decision

PHILADELPHIA –– In support of its position that the Official Committee of Talc Claimants should be terminated, LTL Management LLC told the 3rd Circuit U.S. Court of Appeals that “conversion or dismissal of a Chapter 11 case eliminates the statutory basis for the committee’s existence.”

In a March 19 letter, the debtor said a Western District of New York case referenced by the Committee, Official Committee of Equity Securities Holders v. Integrated Nano-Technologies Inc., fails to address 11 U.S.C. § 103(g), which states that the Bankruptcy Code sections providing for appointment of a committee of unsecured creditors applies “only in …