When can a liquidator (or trustee in bankruptcy) reject a proof of debt? In dealing with distressed companies and estates, liquidators and trustees are faced with competing claims and a limited number of assets in which to meet those competing claims. The situation is further complicated by the increasing costs involved in administering the estate…Read article
Any payment to you as a creditor (someone the person owes money to) will depend on the amount of money that can be obtained from the trustee in bankruptcy selling the assets of the bankrupt and from any money in the bankrupt
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