Creditor guides to office holder remuneration
The Creditors' Guides to an Office Holder's Remuneration are stand-alone guidance for creditors.
The guides explain the following:
- rights of creditors in respect of an Insolvency Practitioner's (IP) fees
- how an IP is required to seek approval of his fees
- the information an IP is required to provide to creditors
- the options available to a creditor if he wishes to challenge the level of an IP's fees
The guides relate to creditors' rights with regard to IP fees. They are intended to clarify how an IP seeks approval of fees, what information a creditor can expect to receive, and what a creditor can do if dissatisfied with the level of an IP's fees.
The creditor guides are a supplement to Statement of Insolvency Practice 9 – 'Payments to insolvency office holders and their associates from an estate' (effective 1 April 2021) – which sets out practice with which IPs are required to comply.
Creditor's Guide to remuneration of Trustees in Bankruptcy - Scotland (effective from 30 November 2016)
Creditor's Guide to remuneration for a Trustee acting under a trust deed - Scotland (effective from 30 November 2016)