Creditors' guide to fees
The creditors' guides to fees is an invaluable aid to creditors, providing details of their rights with regards to insolvency practitioners’ fees, information on how an insolvency practitioner seeks approval for the fees they charge, what information they can expect to receive, and what they can do if they are unhappy with the level of a practitioner’s fees.
The guides form appendices to the Statement of Insolvency Practice (SIP) 9; 'Remuneration of insolvency office holders in England and Wales', and are issued by the Association of Business Recovery Professionals (R3), who set out the standards insolvency practitioners are expected to meet. SIP are issued to insolvency practitioners with a view to maintaining standards by setting out required practice and harmonising practitioners' approach to particular aspects of insolvency.
Currently, guides covering England & Wales, deal with:
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