Register of Insolvencies
The register of insolvencies is a statutory register about the insolvency of individuals and businesses in Scotland.
Creditor's Petition Fee
The Creditor Petition Fee was introduced as part of The Bankruptcy Fees (Scotland) Amendment Regulations 2009, which came into force on 1 April 2009. These have been subject to change and The Bankruptcy Fees etc. (Scotland) Regulations 2012 details the current fees structure and sets out the fees involved in administering personal insolvencies in Scotland in accordance with Accountant in Bankruptcy's functions.
Who does the Fee apply to?
From 1 July 2012, the fees associated with making a petition for sequestration are being replaced with a new fee structure. Previously, a petitioner would pay a court fee of £95 and a petition administration fee to Accountant in Bankruptcy of £200. To lower costs incurred in relation to the administration of petitions, Accountant in Bankruptcy is reducing the petition administration fee to £100.
In addition, Accountant in Bankruptcy will charge a deposit of £200 when a sequestration is awarded from a petition and the Accountant in Bankruptcy is appointed as trustee. The fees and deposit will be recoverable if funds are available in the debtor's estate when the sequestration ends. Where no funds are available, the £200 will be set against the cost of administration and will help reduce the burden on the public purse.
What the fee is for?
This fee is payable to cover Accountant in Bankruptcy's administration costs for processing and recording the petitions and for undertaking checks to prevent duplication of petitions and applications for bankruptcy. The fee is payable regardless if the petition for bankruptcy is later withdrawn, or an award of bankruptcy is not granted.
How do I pay?
Creditors must send a copy of their petition for bankruptcy to the Accountant in Bankruptcy on the day they lodge their petition in the Scottish Court. On receipt of the copy petition, the Accountant in Bankruptcy will issue an invoice to the petitioning creditor, for the £100 fee.
There is no provision for this fee to be waived nor paid by instalment. The fee must be paid, in full, following receipt of the invoice.
If there are more than one creditor named on the petition, the invoice will be issued to the first named creditor. However, the fee is jointly and severally payable by all the named creditors on the petition
When do I pay?
You must make payment within 30 days of receipt of the invoice.
If your organisation regularly petitions for the bankruptcy of your debtors, you may ask the Accountant in Bankruptcy to invoice you on a monthly basis for the total fees due for all the bankruptcies you have petitioned for in the previous month. If you wish to receive an invoice on a monthly basis, you must contact our Finance Department detailing the name of your organisation, the average number of petitions you expect to lodge per month and details of the bank account from which the fees will be paid.
AiB Finance Department
1 Pennyburn Road
If you wish more information regarding the process for applying for someone to become bankrupt, please read our Creditor's Guide or contact us on: 0300 200 2600