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Filing, in itself, does almost nothing. The claim will be resolved as part of the BK proceedings, using all the assets of the company..and may well be maintained as a liability to be paid (reaffirmed) in a reorganized company, paid in full, substantially or only partly - or nothing. But the BK court will act formally in deciding what the handling is. The creditor MUST file a "proof of claim" form with the BK court, timely, to have the debt included in the process.

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