Notice to Creditors

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Definition of 'Notice to Creditors'

A notice to creditors is a legal document that is sent to all of a company's creditors informing them of the company's intention to file for bankruptcy. The notice must include the name of the company, the date of the filing, and the name and address of the bankruptcy attorney representing the company. The notice must also be sent to all of the company's known creditors, including those who have not yet filed a claim against the company.

The purpose of the notice to creditors is to give them notice of the company's financial situation and to allow them to file a claim against the company in order to protect their interests. The notice also provides creditors with information about how to file a claim and how to receive information about the bankruptcy case.

The notice to creditors is an important part of the bankruptcy process. It helps to ensure that all of the company's creditors are aware of the bankruptcy filing and that they have an opportunity to protect their interests.

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