Serving on the official unsecured creditors' committee (UCC) of a bankrupt firm provides hedge funds with access to material nonpublic information (MNPI), which can facilitate their informed trading across firms and asset markets. We find that hedge funds increase equity turnover and execute more large trades in the quarters following UCC membership. In contrast, hedge funds do not exhibit such trading behavior after accessing public information about bankrupt firms or holding the bankrupt firm's debt without committee involvement. Importantly, these large trades often target firms with close economic ties to the bankrupt entity. Returns from these MNPI-driven trades are substantial.