(1) A claim is deemed to have been determined if no objection is raised by the insolvency administrator or by an insolvency creditor during the verification meeting, or in the written proceedings (section 177) or if any objection raised by a party is removed. The debtor’s objection poses no obstacle to determination of a claim.
(2) For each claim filed the insolvency court enters in the schedule the extent to which the amount and rank of a claim was determined or which party objected to its determination. An objection on the part of the debtor is also to be entered in the schedule. The registrar at the insolvency court is to mark the determination on bills of exchange and any other debt instruments.
(3) As regards claims determined with their amount and rank, entry into the schedule has the legal effect of a final judgment with respect to the insolvency administrator and all the insolvency creditors.