Allowance and Disallowance of Claims
Learn about the general rules governing whether the bankruptcy court should allow or disallow a creditor's claim, along with the consequences of allowance and disallowance.
As we've mentioned, a claim is any right to payment, regardless whether it's secured, unsecured, liquidated, unliquidated, matured, unmatured, contingent, fixed, disputed, undisputed, legal, equitable, and so on. Having a claim against the debtor is the foundation of a creditor's right to participate and, less commonly, receive a distribution in a bankruptcy case.
I. Proof of Claim
More precisely, for a creditor to be treated as a creditor in the bankruptcy case, it must have...