What type of bankruptcy proceedings create an estate?

In the context of bankruptcy proceedings, an estate is created when either a voluntary or involuntary bankruptcy filing occurs. This estate encompasses all the debtor's legal and equitable interests in property at the moment the bankruptcy case is initiated.

In a voluntary bankruptcy, the debtor themselves files the petition in order to obtain relief from debts, which automatically establishes the estate. On the other hand, an involuntary bankruptcy occurs when creditors file a petition against the debtor without the debtor's consent. This also results in the creation of an estate, as it is a legal process aiming to provide relief and ensure the fair distribution of the debtor's assets among creditors.

Thus, both forms of bankruptcy proceedings—voluntary and involuntary—generate an estate, making it clear why the correct answer reflects the principle that an estate is formed in both scenarios.