Binding Precedent No. 861 rendered by the general board of the Supreme Court regarding the basis for converting foreign currency claims of bankrupt creditors is considered one of the most important steps towards creating a unified judicial precedent in the Iranian bankruptcy system. This decision determines the rial equivalent of foreign currency claims based on the daily rate announced by the Central Bank at the time of verification of the claims, in order to preserve the real value of creditors against currency fluctuations. However, an analysis of the content of the judgment shows that considering the exchange rate at the time of verification of claims as criterion can be inconsistent with the fundamental principle of equality of creditors in the liquidation process. In situations where the value of the Rial currency rises and falls, the share of Rial and foreign currency creditors in relation to the bankrupt's existing assets changes disproportionately, and as a result the relative justice of asset distr bution is disrupted. This article, while first explaining the mechanism for recognizing and verifying claims and the role of the liquidation department or liquidator as the representative of the bankrupt businessman, examines the grounds for rendering this decision.Then, the content of the binding precedent is evaluated. Finally, the decision in question is critically examined and it is suggested that, in order to maintain justice and equality among creditors, the date on which the bankrupt was unable to pay his debts be used as the criterion for converting foreign currency claims. This approach is both consistent with the foundation of liquidation and may also pave the way for a fairer implementation of the bankruptcy process.