On January 11, 2012, Hostess Brands, Inc. and certain affiliates (together, “Hostess” or the “Debtors”) filed voluntary petitions to reorganize under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court").
The questions and answers that follow provide general information concerning the Hostess cases, the Official Committee of Unsecured Creditors of Hostess, et al. (the "Committee"), and various topics related to the Hostess cases and the Committee.
- What is the Committee?
- What is the Committee's role in the Hostess Case?
- Who are the members of the Official Committee of Unsecured Creditors?
- Which Hostess entities are in bankruptcy?
- Who is the judge presiding over the Hostess Case?
- Who is the United States Trustee?
- What role does the United States Trustee Play?
- Does the Committee represent individual creditors?
- What is the deadline for filing proofs of claims?
- Do I need to file a proof of claim?
- Have the Debtors filed their Schedules of Assets and Liabilities and Statements of Financial Affairs?
- Have the Debtors filed any Chapter 11 plan(s) or disclosure statement(s)?
- How long will the Hostess case last?
- How do I get responses to specific questions?
Pursuant to the Bankruptcy Code, the United States Trustee is authorized to appoint a committee of creditors holding unsecured claims as soon as practicable after the filing of a case. Generally, a creditors' committee is a group of general unsecured creditors (typically seven) appointed to represent, in a fiduciary capacity, the interests of all general unsecured creditors. In such role, creditors' committees act to protect and promote the interests of general unsecured creditors by, among other things, monitoring a debtor's business operations, investigating its business and financial affairs, and negotiating the terms of a plan of reorganization (a "Plan"). The overarching goal of a creditors' committee is to maximize value for general unsecured creditors.
In accordance with this authority, on January 18 and January 30, 2012, the Office of the United States Trustee for the Southern District of New York appointed the Committee.
Pursuant to the Bankruptcy Code, the Committee may: (1) consult with the trustee or debtor in possession concerning the administration of the Hostess Case; (2) investigate the acts, conduct, assets, liabilities, and financial condition of the Debtors, the operation of the Debtors' businesses and the desirability of the continuance of such businesses, and any other matter relevant to the Hostess Case or to the formulation of a Plan; (3) participate in the formulation of a Plan, advise those represented by the Committee of the Committee's determinations as to any Plan formulated, and collect and file with the court acceptances or rejections of a Plan; (4) request the appointment of a trustee or examiner under section 1104 of the Bankruptcy Code; and (5) perform such other services as are in the interests of the unsecured creditors.
The members of the Official Committee of Unsecured Creditors are:
- Bakery & Confectionery Union & Industry International Pension Fund
- Central States, Southeast and Southwest Areas Pension Fund
- Interstate Brands Corporation-International Brotherhood of Teamsters National Negotiating Committee
- New York State Teamsters Conference Pension and Retirement Fund
- Stationary Engineers Union, Local 39
- I.A.M. National Pension Fund
- Caravan Ingredients Inc.
- Bakery, Confectionery, Tobacco Workers & Grain Millers International Union
- New England Teamsters and Trucking Industry Pension Fund
Click here to view a list of the Debtors and case numbers.
The Hostess Case has been assigned to the Honorable Robert D. Drain.
The attorney from the Office of The United States Trustee for the Hostess Case is Paul K. Schwartzberg.
The United States Trustee Program is a component of the Department of Justice responsible for overseeing the administration of bankruptcy cases. For further details on the United States Trustee's role, please visit: www.usdoj.gov/ust/r02
No. The Committee represents the interests of all unsecured creditors through oversight of and negotiations with the Debtors. Neither the Committee nor its counsel represents individual creditors that may have claims in the Hostess Cases.
On March 14, 2012 the Court entered an Order establishing April 24, 2012 at 5:00 p.m. (Eastern Time) as the General Bar Date for filing proofs of claim against the Debtors in these bankruptcy cases, and July 9, 2012 at 5:00 p.m. (Eastern Time) as the Bar Date for Governmental Entities.
On January 28, 2013, the United States Bankruptcy Court for the Southern District of New York entered an Order establishing March 28, 2013 at 5:00 p.m. (Eastern Time) as the deadline to file administrative claims entitled to priority under sections 503 and 507 of the Bankruptcy Code that arose on or after January 11, 2013 but prior to January 31, 2013 in these bankruptcy cases.
Proofs of claim must be filed so as to be received on or before the applicable Bar Date, at the following address:
Hostess Brands Claims Processing Center
c/o Kurtzman Carson Consultants LLC
2335 Alaska Ave
El Segundo, CA 90245
If you believe that you or an entity you represent has a claim against one or more of the Debtors, you may wish to file a proof of claim to protect your rights. You should consult your own counsel in deciding to file a claim in the Hostess Cases or follow the instructions in the Orders establishing the General Bar Date or the Administrative Expense Claims Bar Date, as applicable. The (i) Proof of Claim form regarding the General Bar Date can be found here and the (ii) Proof of Claim form regarding the Postpetition Administrative Expense Bar Date can be found here.
Yes. The Debtors have filed their Schedules of Assets and Liabilities and Statements of Financial Affairs, which can be found on the Court docket at docket numbers 412-423. The Debtors have also filed amendments to their Schedules of Assets and Liabilities, which can be found on the Court docket at docket numbers 1086-1091.
There is no specific time estimate at this time.
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