claim in bankruptcy

Definition of "claim in bankruptcy"
  1. A written statement submitted by a creditor in a bankruptcy case, detailing the amount a debtor owes them in hopes of benefiting from any potential distribution of the debtor's assets
How to use "claim in bankruptcy" in a sentence
  1. The local store submitted a claim in bankruptcy when the shopping mall owner filed for bankruptcy.
  2. The bank had a substantial claim in bankruptcy after the business failed.
  3. Upon realizing their tenant's financial troubles, the landlord swiftly lodged a claim in bankruptcy.

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