Cost of proof: creditor must bear expenses of proving a debt in fast track insolvency proceedings. Regulation 11 provides that in the fast track insolvency process a creditor who submits a proof of claim is responsible for meeting the expenses incurred ... Summary
Cost of proof: creditor must bear expenses of proving a debt in fast track insolvency proceedings.
Regulation 11 provides that in the fast track insolvency process a creditor who submits a proof of claim is responsible for meeting the expenses incurred in proving the debt, placing the financial burden for evidentiary and procedural costs on the submitting creditor rather than on the insolvency process or corporate debtor.
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