Bankruptcy and Insolvency Act

Marginal note:Proof by secured creditor

• 127 (1) Where a secured creditor realizes his security, he may prove the balance due to him after deducting the net amount realized.

• Marginal note:May prove whole claim on surrender

  (2) Where a secured creditor surrenders his security to the trustee for the general benefit of the creditors, he may prove his whole claim.