Legal Definitions - primary committee

A primary committee is a group of creditors who work together to assist a debtor in creating a reorganization plan during bankruptcy proceedings.

For example, if a company files for bankruptcy, a primary committee may be formed by the company's largest creditors to negotiate a plan for the company to repay its debts and restructure its operations. The primary committee may also represent the interests of other creditors who are not part of the committee.

The primary committee plays an important role in the bankruptcy process as they work to ensure that the debtor's reorganization plan is fair and feasible. They may also negotiate with the debtor to make changes to the plan to better serve the interests of all creditors involved.