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Category Archives: Insolvency

Uplift in Fees on Winding up and Bankruptcy Petitions

By Melanie Badain | Published: May 31,2011

With effect from Wednesday 1st June 2011 and pursuant to The Insolvency Proceedings (Fees) (Amendment) Order 2011 the Official Receiver’s deposit collected by the court on the presentation of any winding-up or bankruptcy petition will increase as follows:

  • in relation to a winding-up petition in respect of a company, the deposit will increase from £1,000 to £1,165
  • in relation to a bankruptcy petition in respect of an individual to be presented by the individual himself, the deposit will increase from £450 to £525
  • in relation to a bankruptcy petition in respect of an individual to be presented by a creditor (which includes a petition that is presented by the supervisor of a failed voluntary arrangement) the deposit  will increase from £600 to £700.

 

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Late administration extensions may be penalised

By Melanie Badain | Published: Apr 8,2011

Registrars at the Companies Court have recently indicated that any applications to extend an administration should be made at least six weeks before the administration is due to expire rather than the previous four week period.

 The penalty for failure is to exclude administrators’ costs of the application which has already been applied in a number of cases. We understand that the Court is considering issuing formal guidance in a Practice Note or Direction.

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