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Creditor Insolvency Guidance

The R3 creditor guide explains to creditors their rights under insolvency legislation in the different types of insolvency proceedings, both corporate and personal.

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Guidance on the formation of Liquidation and Creditors’ Committees and what is expected of those who sit on such committees is available on this link

Guidance notes for Creditors about Insolvency Practitioners' Fees

The guides are produced by R3 and provide information on the bases on which insolvency practitioners’ remuneration is fixed in a format suitable for making creditors aware of the relevant legislative provisions. They also explain creditors’ rights to seek further information about and challenge the level of remuneration, disbursements and other expenses.

Statement of Insolvency Practice 9 – payments to insolvency office holders and their associates (effective date 1 December 2015) and Statement of Insolvency Practice 7 - presentation of financial information in insolvency proceedings (effective date 2 May 2011) use the expression 'suitable explanatory note' which sets out the rights of creditors. These guides may be used as that explanatory note.

England and Wales - effective from 6 April 2017 

Previous versions

Please click on the relevant link above for the guide you wish to access.

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