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.
D. Conference Committee. 1  Members from each house form a conference committee and meet to work out the differences. The committee is usually made up of senior members who are appointed by the presiding officers of the committee that originally dealt with the bill.