Deadlines for proving debts in corporate insolvencies: an Anglo-American analysis

Zhang, Z. (2023) Deadlines for proving debts in corporate insolvencies: an Anglo-American analysis. Australian Journal of Corporate Law, 38(3), pp. 399-412.

Abstract

This article examines one of the key mechanisms in corporate insolvencies, the deadline in proving debt, a subject long overlooked in corporate law communities, raising two specific questions. First, whether does the deadline apply to all debt claims, especially in different insolvency procedures? Second, what remedies are available to forgiving a late claim that missed the deadline for various reasons? This article calls for a consistent approach on both whether to impose a deadline in the first place and on whether to offer relief to late claimants. In addition, the article proposes the adoption of the good faith principle on office-holders when dealing with a late claim that has been clearly recorded on the company’s books.

• Item Type: Articles
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Zhang, Dr Zinian
• Authors: Zhang, Z.
• College/School: College of Social Sciences > School of Law
• Journal Name: Australian Journal of Corporate Law
• Publisher: LexisNexis
• ISSN: 1037-4124
• ISSN (Online): 1037-4124
• Copyright Holders: Copyright © 2023 Informit
• First Published: First published in Australian Journal of Corporate Law 38(3):399-412
• Publisher Policy: Reproduced in accordance with the publisher copyright policy