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Legislation & Litigation

R3 comments on insolvency fees changes

By CreditMan Tuesday, March 3, 2015

Giles Frampton, president of R3, the insolvency trade body, comments on the changes to insolvency fee setting announced by the Insolvency Service this morning:

“We are very pleased with the government’s practical proposals for updating the insolvency fees-setting process. An up-front estimate should work for both creditors and the insolvency profession, and will help improve trust and transparency in our insolvency regime. The profession first supported an up-front estimate system in 2011 and we are pleased to see it set to become reality.”

“The 2013 Kempson Review found that creditor engagement is crucial for effective fee-setting. We anticipate that the estimate system will provide information to encourage this engagement, as will a new website for creditors being launched today by R3 with support from key creditor groups. The website,, will tell small unsecured creditors what they need to know about their role in the insolvency process.”