The Packaging Systems decision is an important lesson for post-petition lenders. First, the decision highlights the risks inherent in obtaining a Section 364(c)(1) super-priority claim given the ever-present risk that the case is later converted to a Chapter 7.
From Government in America: Until the 1970s, committee chairs were always selected through the seniority system; under this system, the member of the majority party with the longest tenure on the committee would automatically be selected.
A special committee (or working, select, or ad hoc committee) is established to accomplish a particular task or to oversee a specific area in need of control or oversight. Many are research or coordination committees in type or purpose, and are temporary.