Part 14 of the Insolvency (England and Wales) Rules 20161 now provides a common code for proof of debts and distribution of assets in all forms on insolvency procedures. In both a members’ and creditors’ voluntary winding up, the liquidator invites persons claiming to be creditors of the company to claim for debts owed them. This procedure is known as ‘proving’ for debt, and a document by which a creditor seeks to establish his claim is his ‘proof’2. A proof must contain the prescribed content3.
The liquidator may require a creditor to clarify or substantiate the
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