Rejection of proof of debt: liquidator's notice limits challenge period and sets grounds for disallowance.

The liquidator's notice communicates rejection in whole or in part of a lodged proof of debt and specifies the grounds for disallowance; it constitutes the formal record to the claimant and, in the case of workmen or other employees, may be drawn as a suitable statement by their representative. The notice also notifies the claimant that an application to reverse or vary the rejection must be made within the prescribed period from service of the notice, subject to any extension the competent tribunal may grant.

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