Proof of Claim
/ˈpruːf əv kleɪm/
Definitions
- (n.) A formal written statement filed by a creditor asserting the validity and amount of a debt owed in a bankruptcy proceeding.
The creditor submitted a proof of claim to ensure repayment during the bankruptcy case.
Forms
- proof of claim
- proofs of claim
Related terms
See also
Commentary
A proof of claim is essential in bankruptcy to establish a creditor's right to payment; precision in stating the amount and basis is critical to avoid disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.