| Commentary

245 Proof by secured creditors

| Commentary

245 Proof by secured creditors

If a secured creditor wishes to prove for the whole or part (ie what he believes to be the unsecured part) of his debt he must submit a proof of debt and, if he intends to prove in part, complete that part of a standard proof of debt containing particulars of the security held, the date on which it was given and the value he puts on it1. He may, with agreement of the trustee (or the permission of the court), alter the value at a later stage2. There are provisions, rarely arising, whereby:

  1. 245.1

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial