---
title: "Restructuring creditor classification sheet"
url: "https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy/restructuring-creditor-classification"
type: "precedent"
site: "AI Law Framework"
id: "a8-restructuring-creditor-classification"
area_id: "A8"
kind: "form"
ai_level: "yellow"
version: 1
task_ids: ["A8-L20261018-3", "A8-B2-1", "A8-A20260923-1"]
law_stated_as_at: "2026-10-22"
---

# Restructuring creditor classification sheet

> Sheet for sorting creditors of a company in small business restructuring into affected creditors, excluded creditors and admissible debts, as ASIC describes those terms.

Canonical page: https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy/restructuring-creditor-classification  
Law stated as at: 2026-10-22

Site index for agents: https://ailawframework.com/llms.txt

## Key facts

- Kind: Form. A form to complete, or a guide to completing an official one.
- Practice area: [Insolvency, Restructuring & Bankruptcy](https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy.md)
- Jurisdictions: Commonwealth
- AI level: Yellow. You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at: 2026-10-22
- Status: Maintained. Checked on 2026-10-22 against the authority it cites, for Commonwealth.

## When to use it

Use when building a creditor list for a restructuring proposal, or the creditor half of a first-day map. It does not record security interests.

## Used for these tasks

- [Advise directors on entering small business restructuring](https://ailawframework.com/practice/insolvency-restructuring-and-bankruptcy/advise-directors-on-entering-small-business-restructuring.md)
- [Build a creditor schedule from books and proofs of debt](https://ailawframework.com/practice/insolvency-restructuring-and-bankruptcy/build-a-creditor-schedule-from-books-and-proofs-of-debt.md)
- [Build a first-day creditors and security-interest map](https://ailawframework.com/practice/insolvency-restructuring-and-bankruptcy/build-a-first-day-creditors-and-security-interest-map.md)

## How AI may be used

The tool lists creditor names and amounts from a schedule the lawyer supplies, and the lawyer classifies each creditor.

**AI may:**

- Copy creditor names and amounts from the schedule into the table.
- Leave the classification column blank.

**AI must not:**

- Do not decide that a creditor is excluded or that a debt is admissible.
- Do not include a security-interest opinion. This sheet does not deal with the Personal Property Securities Register.
- Do not draft the schedule of debts and claims that goes into the proposal statement.

**The lawyer checks:**

- Use ASIC's descriptions of affected creditor, excluded creditor and admissible debt.
- ASIC says an admissible debt is one that would be admissible under section 553(1) if the company were wound up, and does not include employee entitlements or a debt admissible only under section 553(1A). Section 553 was not opened.
- The relevant date ASIC states is the beginning of the restructuring.

## Authorities

- [ASIC, Small business restructuring and the restructuring plan](https://www.asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/small-business-restructuring-and-the-restructuring-plan)

## Official form

[Official form](https://www.asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/small-business-restructuring-and-the-restructuring-plan)

## Full text and drafting notes

The full text and the drafting notes are not part of this public page. Signed-in firm accounts can read them at https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy/restructuring-creditor-classification and through the signed-in MCP connector https://ailawframework.com/mcp/firm.

*Practice guidance for planning and review. Confirm current primary sources and the requirements of the actual matter. This is general information, not legal advice.*