Business, Innovation and Skills written question – answered on 10th October 2011.

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Photo of John Glen John Glen Conservative, Salisbury

To ask the Secretary of State for Business, Innovation and Skills what assessment he has made of the effects on creditor returns of after-the-event fee review in insolvency cases where complaints are not upheld.

Photo of Edward Davey Edward Davey The Parliamentary Under-Secretary of State for Business, Innovation and Skills

The Department is currently reviewing responses to the consultation on the regulation of insolvency practitioners, which sought views on whether an independent complaints body should be set up which would have the power to review the fees they charge. We have not quantified the specific effect on creditor returns where complaints are not upheld. However, the benefits identified within the package of policy options consulted on significantly outweigh the costs of dealing with fee complaints.

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