Provable debt
A debt or liability that can be claimed in an insolvency process under the applicable statutory rules.
Related terms
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Liability
A legal or financial obligation to pay money, compensate another party or meet another duty.
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Creditor claim
A creditor’s stated right to be paid, particularly in litigation or an insolvency process where the amount may need to be proved.
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Contingent debt
A potential liability that becomes payable only if a future event occurs, such as a guarantee being called in.
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