Register of Insolvencies
The register of insolvencies is a statutory register about the insolvency of individuals and businesses in Scotland.
Fees for services
AiB charges for the services it provides, as outlined by the Bankruptcy Fees (Scotland) Regulations and we review the levels of fees and charges for our services annually.
The Bankruptcy Fees etc. (Scotland) Regulations 2012 introduces changes to AiB’s current fees structure and sets out the fees involved in administering personal insolvencies in Scotland in accordance with AiB’s functions. While some fees are increasing, the majority have been frozen and some fees have been reduced.
Changes to fees
The key changes resulting from the 2012 review include:
- Debtor application fees will increase from £100 to £200 with effect from 1 June 2012 to more accurately reflect the rising unit cost of processing an application. There is provision to pay this fee in smaller instalments and more details on this can be found in the Debtor Application Pack and by completing the Notice to pay by instalments form. The debtor application can be made when the full fee has been paid.
- The creditor petition administration fee will reduce from £200 to £100 with effect from 1 July 2012. This is part of a new fee mechanism within which AiB will charge a deposit of £200 where a sequestration is awarded from a petition and The Accountant in Bankruptcy is appointed as trustee. The fees and the 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 reduce the burden on the public purse. These fees now also relate to petitions by a trustee under a Protected Trust Deed or by an executor of a deceased debtor.
- From 1 July 2012, a new charging mechanism for the supervision of a trustee in a protected trust deed (PTD) will be introduced. The previous one-off fee of £250 will be removed and instead AiB will charge £100 for ever year the PTD is supervised. The fee will fall due on the date the trust deed gains protection and every anniversary of that date while the trustee remains in office. If the trustee is discharged from office and the debtor is not discharged from their obligations, then the fee will be refunded for that year. AiB intend to continue the practice of only invoicing the fee one year after the trust deed becomes protected to allow trustees sufficient time to ingather funds.
AiB is committed to ensuring transparency in introducing these changes and further details on fees and the changes to these can be viewed in more detail.