Overview
Creditors Guides to Insolvency Practitioners Fees sets out the information creditors should receive when Insolvency Practitioners seek approval of their fees and how the process works. They also explain the rights of creditors with regards to Insolvency Practitioners’ fees and the options available if they are dissatisfied with the level of fees in both corporate and personal insolvencies.
These guides are produced by R3 and provide information on the bases on which insolvency practitioners’ remuneration is fixed in a format suitable for making creditors aware of the relevant legislative provisions. They also explain creditors’ rights to seek further information about and challenge the level of remuneration, disbursements and other expenses.
The latest version of the Guides are effective for 1 April 2021. The Guides cover all types of insolvency excluding moratoriums and members voluntary arrangements unless the unless those paying the fees require such disclosures. A copy of the Guides can be accessed by clicking on the relevant insolvency procedure details below:
Previous guides can be found here.