Creditors’ fee guides
Statement of Insolvency Practice 9 (SIP9) - remuneration of Insolvency Office Holders - issued by the Association of Business Recovery Professional (R3), provides for the rights of creditors in relation to insolvency practitioners’ fees to be brought to creditors’ attention.
The following are the respective guides for each type of insolvency. They explain the basis on which the insolvency practitioners’ fees are fixed, how they are approved, what information creditors can expect to receive and what creditors can do if they are dissatisfied with the level of fees.
- Administration-A creditors’ guide to fees charged by an Administrator
- Voluntary Arrangement-A creditors’ guide to fees charged by a Supervisor
- Liquidation-A creditors’ guide to fees charged by a liquidator
- Bankruptcy-A creditors’ guide to fees charged by a Trustee in Bankruptcy
A NASTY STING IN THE TAIL - SECTIONS 216&217 INSOLVENCY ACT 1986