The key to any successful out-of-court arrangement is communication and professional administration. CMA has over a century of experience serving as Secretary to creditor’s committees. Its strategic communications provide creditors with answers to previously unanswered questions, reducing the probability of lawsuits and restoring creditor confidence. CMA’s presence lends credibility to any out-of-court workout; it serves as “information central” in every case and communicates with creditors on a one-to-one basis as needed.
CMA coordinates all committee communications and ensures the smooth administration of the case. Attorneys and other professionals rely on CMA to facilitate the negotiating process leading up to a formal proposal to creditors. The detailed sets of minutes provided to committee members and regular status bulletins to creditors are crucial to the out-of-court workout process. CMA’s advanced database software ensures effective communication and claims management.
CMA brings this same level of professional expertise to a formal Chapter 11 case when it is designated as Secretary to the Official Creditors’ Committee by the Bankruptcy Court. The Association has a long history of serving in this specialized capacity and is frequently used by insolvency attorneys to enhance the administration and communication in a Chapter 11.