To ensure fair and equitable representation of the COC, the Company devised a transparent process that combined both value and count. By segmenting Creditors into value-based Tranches and selecting a random 1% from each Tranche, the Company offered all Creditors an opportunity to be represented while mitigating the bias that could arise from the disproportionate number of smaller Claims.
1% of each Tranche was randomly selected and notified to express interest in joining the COC. Creditors who responded within the given period and accepted their status as contingent unsecured creditors were eligible for Phase 2 and formed the Potential COC Member Pool. One COC Member from each Tranche was then randomly selected from the Potential COC Member Pool.