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.
In the first step of the assignment process, members declare committee preferences to the partyâs selection committee. The committee considers internal politics, such as seniority, to determine the assignments. After a certain allocation of committee seats, the U.S. Senate uses randomization to determine the assignments of new members.