Question

To ask the Secretary of State for Business, Innovation and Skills, what estimate his Department has made of the costs to insolvency practitioners of holding a physical creditor meeting in an insolvency procedure.

The cost of holding a meeting varies according to the insolvency process and the nature of the meeting being held.

Estimates of the cost of the initial meetings in various insolvency procedures are included in the Impact Assessment [“Small Business, Enterprise and Employment Bill: proposed changes to the law governing insolvency proceedings impact assessment”, BIS/14/935, 30 October 2014] and range from £144 in a bankruptcy to £420 for an administration.