Remuneration and fees of an insolvency office-holder

Remuneration

The remuneration of office-holders in both corporate and personal insolvencies is dealt with in the Insolvency Act 1986 and Insolvency (England and Wales) Rules 2016, SI 2016/1024. Any court considering the question of office-holder remuneration will also apply part six of the Practice Direction on Insolvency Proceedings. In addition, office-holders should take Statement of Insolvency Practice (SIP) 9 into consideration, which provides guidelines on the basis of remuneration. While not legally binding, SIPs are best practice and failure to follow the same could lead to disciplinary action against the office-holder.

Given that an office-holder's remuneration is payable from the assets of the relevant estate as part of the expenses, creditors have a direct interest in the level of their remuneration. The legislation recognises this and allows for creditors to determine the basis of an office-holder's remuneration.

For further information, see Practice Notes:

1. •

   Office-holder remuneration

2. •

   Remuneration and expenses of an administrator

3. •

   Remuneration and expenses of a liquidator

4. •

   Trustee in bankruptcy—remuneration and expenses

5. •

   Remuneration and expenses of LPA or fixed charge receiver, administrative receiver and court appointed receiver

6. •

   Remuneration