The Insolvency Proceedings (Fees) (Amendment) Order 2016 (SI 2016/692) (“Order”) will come into force on 21 July 2016, revoking The Insolvency Proceedings (Fees) Order 2004 (SI 2004/593). The Order provides for a new insolvency fee structure for bankruptcies and compulsory liquidations, however the court issue fee of £280 shall remain the same pursuant to The Civil Proceedings Fees (Amendment) Order 2014.
The order provides that the increased deposits are
• creditor’s bankruptcy petition deposit £990 (from £825)
• creditor’s winding up petition deposit £1,600 (from £1,350).
In addition to the above, the Amendment Order now provides that the Official Receiver may deduct an administration fee of £50 when deposits are returned following a withdrawal or dismissal.
