Creditor

Practical Law ANZ Glossary w-018-2811 (Approx. 2 pages)

Glossary

Creditor

A person which is owed money by another person.

A creditor may wish to submit a formal statement of what the creditor believes it is owed (known as a proof of debt) to establish its claim against an insolvent company or individual. For more information on proving a debt, see:

Practice note: overview, Liquidation: Assessing creditors' claims and distribution of assets.
Practice note, How can I protect my business from a debtor getting into financial trouble or going into insolvency?: How to lodge a claim as an unsecured creditor of a company in liquidation or voluntary administration.

End of Document

Resource ID w-018-2811

Law stated as at 14-Dec-2022

Resource Type Glossary

Jurisdiction

New Zealand