Any creditor who wishes to prove a debt in bankruptcy must lodge a proof of debt with the trustee or liquidator. If a proof is lodged and is accepted, the creditor is said to have been admitted to the proof. A proof of debt may be lodged at any time after the date of bankruptcy. However, the trustee will usually call for proofs of debt when a meeting of creditors is imminent and voting rights must be determined. Our Sydney Bankruptcy Lawyers and Insolvency Solicitors have assisted trustees, liquidators and creditors deal with proofs of debt. Contact our office to speak with an experienced Bankruptcy Lawyer or Insolvency Solicitor.
A proof of debt must be in an approved form and contain the particulars of the debt and refer to any documents (such as invoices) supporting the claim. The trustee may require a statutory declaration to verify the proof.
Once in receipt of the proofs of debt, a trustee may accept or reject it in whole or in part or call for further evidence. In this respect, a trustee or liquidator acts in a quasi judicial role and can administer oaths or take affidavits and go behind judgments against the bankrupt to determine whether a proof of debt should be accepted.
A creditor unsatisfied with a trustee’s decision can appeal to the trustee firstly, and if still unsatisfied, can further appeal to the Court within 21 days of the trustee’s decision.
This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
Sorry, but no Articles are available at this time.
Sorry, but no FAQs are available at this time.
If you require assistance with a matter, you should make an appointment to see one of our Lawyers in one of the following locations:
- Bondi Junction
- Bankruptcy Lawyer Sydney
- Insolvency Lawyer Sydney
- Bankruptcy Lawyer Parramatta
- Insolvency Lawyer Parramatta
- Bankruptcy Lawyer North Sydney
- Insolvency Lawyer North Sydney
- Bankruptcy Lawyer Hurstville
- Insolvency Lawyer Hurstville
- Bankruptcy Lawyer Liverpool
- Insolvency Lawyer Liverpool
- Bankruptcy Lawyer Gordon
- Insolvency Lawyer Gordon
- Bankruptcy Lawyer Baulkham Hills
- Insolvency Lawyer Baulkham Hills
- Bankruptcy Lawyer Campbelltown
- Insolvency Lawyer Campbelltown
- Bankruptcy Lawyer Bondi Junction
- Insolvency Lawyer Bondi Junction
- Bankruptcy Lawyer Chatswood
- Insolvency Lawyer Chatswood
- Bankruptcy Lawyer Miranda
- Insolvency Lawyer Miranda
- Bankruptcy Lawyer Bella Vista
- Insolvency Lawyer Bella Vista
- Bankruptcy Lawyer Erina
- Insolvency Lawyer Erina