Creditor’s Guide to Fees
The particular nature of an insolvency office holder’s position renders transparency and fairness in all dealings of primary importance. The following guidance sheets provide useful guidance of process and other useful information. They are free to download.
Administration is a procedure which places a company under the control of an insolvency practitioner and the protection of the court to rescue or relieve the financial situation of the company or individuals concerned.
Liquidation (or ‘winding up’) is the most common type of corporate insolvency procedure. Liquidation is the formal winding up of a company’s affairs entailing the realisation of its assets and the distribution of the proceeds in a prescribed order of priority.
Bankruptcy is the administration of the affairs of an insolvent individual by a trustee in the interests of his creditors generally. The trustee’s function is to realise the assets and distribute them among the creditors in a prescribed order of priority.
This guide explains how fees are fixed in voluntary arrangements, how the creditors can affect the level of fees, and the information which should be made available to them regarding fees.
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All initial meetings are free and confidential. The first consultation will help us establish the current position and allow us to present a range of options available to you.
Send us an email at restructuring@groupams.co.uk or call us on 0161 413 0999.
Disclaimer
AMS Business Recovery & AMS BR is the trading name of Path Business Recovery Ltd, a company registered in England and Wales. Gareth Howarth & Philip Lawrence are Licensed Insolvency Practitioners authorised to act in the United Kingdom by the Insolvency Practitioners Association.
The company’s registered address is 1 Hardman Street, Spinningfields, Manchester, M3 3HF. Registered in England and Wales No.: 10149403. VAT No: 242 7332 23
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