• Voluntary Liquidation
• Creditors Voluntary Liquidation
• Company Liquidation
• Business Debt
• Personal Debt
• Business Bankruptcy
• Business Insolvency
• Sole Trader Insolvency
• Avoid Bankruptcy
• Company Voluntary Arrangements
• Tax Arrears
• Partnerships
• Administration
• Prepack Administration
• Prepack Finance

News

A Creditor's Guide to Administrators Fees

9. Provision of information – additional requirements

The administrator must provide certain information about time spent on a case, free of charge, upon request by any creditor, director or shareholder of the company.

The information which must be provided is –

• the total number of hours spent on the case by the administrator or staff assigned to the case;
• for each grade of staff, the average hourly rate at which they are charged out;
• the number of hours spent by each grade of staff in the relevant period.

The period for which the information must be provided is the period from appointment to the end of the most recent period of six months reckoned from the date of the administrator’s appointment, or where he has vacated office, the date that he vacated office.

The information must be provided within 28 days of receipt of the request by the administrator, and requests must be made within two years from vacation of office.

1. Introduction
2. The Nature of Administration
3. The Creditors’ Committee
4. Fixing the Administrator’s Remuneration
5. Review of Remuneration
6. Approval of Pre-Administration Costs
7. What Information should be provided by the Administrator?
8. Progress Reports and Requests for Further Information
9. Provision of Information - Additional Requirements
10. What if a Creditor is Dissatisfied?
11. What if the Administrator is Dissatisfied?
12. Other Matters Relating to Remuneration
13. Effective Date

Remuneration of insolvency office holders in England and Wales.

Need Debt Advice?

Just-Debts is the one stop web site for people with debt problems. Whether you have debt problems, are currently in debt management and looking for an alternative, considering debt consolidation, or an Individual Voluntary Arrangement. Take advantage of our free consultation service.