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.