May 2012
Annex C
Guidance showing expected hours and The Insolvency Regulations 1994 current charge out rates required in making case distributions.
Rates shown as per the latest amendments made by the Insolvency (Amendment) Regulations 2009 (effective from 6 April 2009).
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Guidance on distributions |
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LONDON RATES |
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Number of creditors London cases |
Hours per grade A2 |
A2 @ £40 |
Hours per grade B1 |
B1 @ £46 |
Hours per grade C2 |
C2 @ 63 |
Total expected hours |
Total expected cost £ |
|
|
Preferential creditors |
2.5 |
100 |
1 |
46 |
0.5 |
31.5 |
4 |
177.5 |
|
|
Unsecured creditors |
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|
10 |
6.5 |
260 |
1 |
46 |
0.5 |
31.5 |
8 |
337.5 |
|
|
20 |
8.5 |
340 |
1 |
46 |
0.5 |
31.5 |
10 |
417.5 |
|
|
30 |
10.5 |
420 |
1 |
46 |
1 |
63 |
12.5 |
529 |
|
|
40 |
12.5 |
500 |
1 |
46 |
1 |
63 |
14.5 |
609 |
|
|
50 |
12.5 |
500 |
1 |
46 |
1 |
63 |
14.5 |
609 |
|
|
|
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Guidance on distributions |
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|
PROVINCIAL RATES |
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|
Number of creditors Provincial cases |
Hours per grade A2 |
A2 @ £36 |
Hours per grade B1 |
B1 @ £42 |
Hours per grade C2 |
C2 @ 58 |
Total expected hours |
Total expected cost £ |
|
|
Preferential creditors |
2.5 |
90 |
1 |
42 |
0.5 |
29 |
4 |
161 |
|
|
Unsecured creditors |
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|
10 |
6.5 |
234 |
1 |
42 |
0.5 |
29 |
8 |
305 |
|
|
20 |
8.5 |
306 |
1 |
42 |
0.5 |
29 |
10 |
377 |
|
|
30 |
10.5 |
378 |
1 |
42 |
1 |
58 |
12.5 |
478 |
|
|
40 |
12.5 |
450 |
1 |
42 |
1 |
58 |
14.5 |
550 |
|
|
50 |
12.5 |
450 |
1 |
42 |
1 |
58 |
14.5 |
550 |
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Notes:
1. The time and rate fee should be charged at the point at which the dividend payment is requested from EAIPS.
2. The official receiver’s distribution remuneration does not include the time spent on returning the petition deposit or payment of the petitioner’s costs (for which there is no charge).
3. The official receiver’s distribution remuneration does include the cost of distributing funds to preferential and non-preferential creditors.