Creditors

INFORMATION FOR CREDITORS

Welcome to the section of our website that aims to provide stakeholders and in particular creditors with additional information to enable you to better understand the various insolvency processes and to set out how you can engage in the process.

Impartial information for creditors

The Association of Business Recovery Professionals (“R3”) has launched a website to provide a step-by-step guide to the various insolvency processes for unsecured creditors.

This website will play an important part in helping creditors to navigate their way through the insolvency process and will also assist creditors in having the processes and key terms explained. At BLB Advisory we always ensure that concerns raised by creditors are addressed and we strive to create an environment where creditors feel that they can engage with us. R3 believes that the best outcomes are achieved where there is active involvement from creditors.
To access the site click here.

Online Documents

To gain access to specific documents or reports that relate to a case please visit www.ips-docs.com You will need to enter into the log in section the specific case name that you are interested in together with the case specific password that has been sent to you in our correspondence.

Rights under insolvency legislation

Guidance to members and creditors about how to request further information regarding the conduct of the administration, winding up or bankruptcy and what steps a member or creditor can take if they do not agree with the quantum of the remuneration and expenses that have been drawn are set out with the Insolvency (England and Wales) Rules 2016. Links to the relevant Rules are below:

Rule 18.9 – Creditors’ and members’ requests for further information in administration, winding up and bankruptcy – rule_18.9_extract.pdf

Rule 18.34 – Remuneration and expenses: application to court by a creditor or member on grounds that remuneration or expenses are excessive – rule_18.34_extract.pdf

Information on fees

In addition to the R3 website, the Joint Insolvency Committee have issued a number of Statements of Insolvency Practice (“SIP’s”) which provide Insolvency Practitioners with good practice guidelines about their conduct and dealings with insolvency assignments.

SIP 9 deals with the remuneration of an Insolvency Practitioner and the information the practitioner is obligated to provide to creditors to enable them to properly consider the basis on which such remuneration is drawn. The current SIP allows for such information to be provided to creditors by electronic means.

Please click on the specific link below to access the information relevant to the type of case being dealt with by BLB Advisory. Should any creditor wish to receive a copy of this information by post, please do not hesitate to contact us and we will be pleased to assist with such a request.

Creditors’ or Liquidation Committees

Creditors may elect to form a committee during an insolvency process and we will provide instructions to creditors of how to achieve this as part of any decision procedure. A guide for creditors which explains the role of a committee and essential information, including its responsibilities, can be obtained by visiting the following URL; https://www.r3.org.uk/media/documents/publications/professional/R3-Guide-to-Creditors-Committees.pdf

Provision of Services Regulations 2009

Please click here to access the information required to be provided in accordance with the regulations.

Online Dispute Resolution Platform

For the avoidance of doubt, BLB Advisory Limited does not provide any services to corporate clients or individuals by online service. This website is a source of information only. BLB Advisory Limited will only agree to offer services when formal terns of engagement have been agreed. If you are of the opinion that BLB Advisory Limited has provided you with an online service and you are unhappy with the level of service that has been provided, in accordance with EU regulations, please find below the link to the online dispute resolution platform (“ODR”) here. This platform only deals with issues relating to an online transaction.