Mayer Quoted in Bankruptcy Insider Article on Section 1102(b)(3) of Bankruptcy Code

Bankruptcy and Corporate Restructuring Partner Tom Mayer was quoted in a Bankruptcy Insider article on the steps counsels to creditors' committees have taken to comply with the revised Section 1102(b)(3) of the Bankruptcy Code. Counsel are now required to share information with every small creditor not on the committee. Mayer, who was noted as counsel to the creditors' committee of Dana Corp., had Kurtzman Carson Consultants, a claims noticing agent, set up a website for creditors in the Dana Corp. bankruptcy. The website allows creditors to share their claims with potential buyers and thus get a better understanding of the claims value. Mayer is quoted as saying that the site is the first to address the issue of claims trading, and while the site is not advising creditors on whether or not to sell their claims, it is an important tool in giving creditors access to the market.