Unknown Creditor Law and Legal Definition
An unknown creditor refers to a creditor whose identity or claim is not reasonably ascertainable or is merely conceivable, conjectural, or speculative. Although they can be discovered upon investigation, do not in due course of business come to knowledge of the debtor. The distinction between an unknown and a known creditor is significant. For an unknown creditor, appropriate publication notice can suffice. In contrast, for a known or reasonably ascertainable creditor, means reasonably calculated to provide actual notice (such as notice by mail) are typically required. In bankruptcy proceedings, publication notice is considered a legally adequate notice to unknown creditors.[Charter Int'l Oil Co. v. Young (In re Charter Int'l Oil Co.), 2007 Bankr. LEXIS 994 (Bankr. M.D. Fla. Mar. 14, 2007)].
