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Review of insolvency practitioner fees and reform to complaint handling system announced

Business Minister Jo Swinson today recently announced a review that will ensure creditors achieve value for money from procedures carried out by insolvency practitioners.

The review, which will be led by Professor Elaine Kempson from the University of Bristol, will hear views from members of the insolvency profession as well as debtors and creditors. A report is expected in summer 2013.

The review aims to ensure that creditors receive value for money from insolvency procedures. It will also aim to reform the way complaints against IPs are handled by industry regulators.

To find out more, click the links below:

Review of insolvency practitioner fees and reform to complaint handling system announced http://www.bis.gov.uk/insolvency/news/news-stories/2012/Dec/IP%20fees%20review%20and%20reform%20to%20complaint%20handling%20system;

Press release http://insolvency.presscentre.com/Press-Releases/Jo-Swinson-announces-insolvency-fees-review-and-single-complaints-gateway-6853e.aspx;

Terms of reference http://bis.gov.uk/insolvency/insolvency-profession/review-of-ip-fees

For more information or advice on any aspect of insolvency law in Scotland, click here to contact us.

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