Proof of debt by secured creditors permits claim of balance when security realised or whole claim if surrendered. Where a secured creditor realises his security, he may produce proof of the balance due to him; where a secured creditor surrenders his security to the bankruptcy trustee for the general benefit of the creditors, he may produce proof of his whole claim.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Proof of debt by secured creditors permits claim of balance when security realised or whole claim if surrendered.
Where a secured creditor realises his security, he may produce proof of the balance due to him; where a secured creditor surrenders his security to the bankruptcy trustee for the general benefit of the creditors, he may produce proof of his whole claim.
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