Q&As

What costs is a creditor likely to encounter in order to seek a bankruptcy order, assuming that a statutory demand has already been personally served on the debtor?

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Published on: 18 October 2018

Although bankruptcy petitions are designed to be relatively straightforward, they are subject to many technical requirements, and failing to comply with these can lead to delays or dismissal. A creditor would be well-advised to instruct solicitors with insolvency expertise to manage the process. The solicitors’ own professional charges will vary from firm to firm.

The current court fee for issuing a bankruptcy petition is £280, plus a petition deposit of £990. If a bankruptcy order is made, the deposit will be refunded to the petitioner provided there are sufficient assets in the bankrupt’s estate to cover it.

Service is a hotly disputed area in bankruptcy petitions; debtors will often seek dismissal on the grounds that they

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Costs definition
What does Costs mean?

Money ordered to be paid by one party to another in respect of the costs incurred in the course of litigation, in bringing or defending a claim.

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