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.
This key group of community leaders represent a cross-section of our membership. Each of our committees is chaired by a member of the Board of Directors who is responsible for bringing committee-level recommendations to the larger group for action and approval. Board members serve three-year terms. Ms. Robyn Askew.