Allowed Claim

A claim ( www.practicallaw.com/resource.do?item=:44401289) which the court has approved for payment under a plan of reorganization ( www.practicallaw.com/resource.do?item=:44403170). Creditors are entitled to vote on a plan only if their claims are impaired ( www.practicallaw.com/7-382-3529) and allowed. Claims are deemed allowed if they are filed, unless a party in interest (such as the debtor or the creditors' committee ( www.practicallaw.com/2-382-3372) ) objects. A claim or interest that is listed on the debtor's schedules as undisputed, noncontingent ( www.practicallaw.com/5-382-3653) and liquidated ( www.practicallaw.com/3-382-3588) is also deemed allowed unless a party in interest objects.

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