Membership of the committee is conditional upon being a creditor in the bankruptcies of FAC or N.V. 2. The committee's duty is to advise the trustees with regard to the interest of the totality of the creditors.
Reference is made to the statutory duties and authority of a creditors' committee.
Representation and resolutions Resolutions of the committee are taken by simple majority, each member having one vote. Each member of the committee may be represented or advised. N.V. No members currently have a dispute with the trustees. In the event an individual member of the committee or its representative or advisor is found to have a conflicting interest in the dealings with a certain subject, such member will inform the other members, the trustees and the bankruptcy judge thereof and will not participate in the discussions regarding that subject. The members of the committee and their representatives and advisors are obliged to treat as confidential all information obtained in their quality as member of the committee, unless such information is public.