Proof of debt | Practical Law

Proof of debt | Practical Law

Proof of debt

Proof of debt

Practical Law ANZ Glossary w-024-5416 (Approx. 2 pages)

Glossary

Proof of debt

Proving is the process by which a creditor seeks to establish its claim against an insolvent company. A proof of debt is the document on which a creditor submits details of its claim.
A proof of debt may be submitted for two purposes:
  • To enable the creditor to vote on matters relating to the insolvency process.
  • To entitle the creditor to receive a dividend or distribution from the insolvent company.