• Posted

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.

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.