Reading time: 4 minutes

As a creditor, you can have your debt admitted as formal debt if you provide the administrator or the liquidator with a formal proof of debt form. A proof of debt form is a formal legal document that is set out in the Corporations Act. Feel free to contact our insolvency lawyers for a copy of this form.

If you are listed as a creditor, the administrator or liquidator should have already provided you with a copy of the formal proof of debt form. This should have been included in the documents that were sent to you, which notified you that the debtor company had gone into administration or liquidation. Generally, it’s a good idea to include any other documents that you think might support your claim, such as an invoice or a contract. If you’re unsure about how to fill this form out, our insolvency lawyers will be happy to help you out.

What to include in your proof of debt form

The formal proof of debt form, being a form that is prescribed by legislation, has a number of specific items that must be included. These are:

  • your company and/ or business name (and other associated details);
  • details of the debt (when it was incurred, how much was incurred and how it was incurred);
  • whether the debt was still owing at the time the company became insolvent; and
  • a signature from a person authorised to do so.

In some cases, if you haven’t yet invoiced a company, you may not be listed as a creditor and you might therefore not have received such a document. The first thing you should do is visit and search for the debtor company. If an administrator or liquidator has been appointed, at the bottom of the notice there should be details of the administrator or liquidator. There should also be some contact details. Otherwise there should be a company name and, if you check out their website, a contact number or email.

Once you have these details, you should send them an email and/ or call them for either a copy of their formal proof of debt form or just send in the one that you have already prepared.

Most administrators or liquidators will have their own form. As long as these forms include the items required by legislation, this is normal practice and not a concern.

After the formal proof of debt has been sent

Once you’ve sent in your formal proof of debt, it’s good practice to send the administrator or liquidator a quick email or make a call to confirm whether they have received the formal proof of debt form and whether the debt has been admitted. If you receive any correspondence from the administrator or liquidator before you do this, it’s generally an indication that your debt has been admitted. Sometimes, however, your debt could be challenged and the administrator or liquidator may have to inform you of this within 7 days. If such a challenge is raised, you will generally be asked to provide additional information in order to support your debt, and unless you provide this information, your debt may not be admitted and you won’t receive anything. If a challenge has been raised about your debt, our insolvency lawyers will be able to provide you with advice on this.


Finally, it’s important to realise that these things are generally done as swiftly as possible, so you will only have a limited period of time to submit your formal proof of debt. Be wary of the date so that you don’t miss out. For more information, and to speak with our insolvency lawyers, contact LegalVision on 1300 544 755.

About LegalVision: LegalVision is a commercial law firm that provides businesses with affordable and ongoing legal assistance through our industry-first membership.

By becoming a member, you'll have an experienced legal team ready to answer your questions, draft and review your contracts, and resolve your disputes. All the legal assistance your business needs, for a low monthly fee.

Learn more about our membership

Need Legal Help? Get a Free Fixed-Fee Quote

If you would like to receive a free fixed-fee quote or get in touch with our team, fill out the form below.

Our Awards

  • 2020 Excellence in Technology & Innovation Finalist – Australasian Law Awards
  • 2020 Employer of Choice Winner – Australasian Lawyer
  • 2021 Fastest Growing Law Firm - Financial Times APAC 500
  • 2020 AFR Fast 100 List - Australian Financial Review
  • 2021 Law Firm of the Year - Australasian Law Awards
  • 2019 Most Innovative Firm - Australasian Lawyer