How are creditors affected?
At the time a person is made bankrupt, creditors exchange their right to enforce their claims for a right to prove in the bankrupt estate for a dividend. All creditors with present or future, or certain or contingent claims at the date of bankruptcy can prove for a dividend. Some debts (including any debts incurred after the bankruptcy started) are not released by the bankruptcy and generally cannot be proved in the estate.
Related Questions
- How have these Regulatory problems and issues directly affected the creditors who have suffered loss in this Operational set up by the fraudsters ?
- If a Joint Commission survey team surveys an affected hospital before July 15, 2010, what will be the expectations for the survey team?
- How is scaling affected by node distribution over different latency networks, e.g. WAN vs LAN?
