Prescribed Part Distributions

Prescribed Part Distributions

There have been various court decisions that emphasise insolvency practitioners’ requirement to return the prescribed part to creditors as quickly and as efficiently as possible. In our experience, the average prescribed part is around £50,000 to £60,000.

Insolvency Support Services provides an efficient, low-cost prescribed part claims approval process that satisfies minimum statutory requirements, but which also meets key quality criteria.

We will collate and check existing claim documentation from creditors and issue notices of proposed dividend to unsecured creditors who have not yet submitted a claim, before admitting or rejecting claims received.

We will then notify creditors where claims are rejected and deal with any appeals received, before preparing and issuing formal notice of declaration of dividend to proving creditors participating against the prescribed part.

Prices depend on the value of the prescribed part and the number of creditors, but start from £2,500 (excluding VAT) per prescribed part distributed.

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