The Insolvency Service has announced it is increasing the rate it charges for debtors and companies to enter bankruptcy .
The government body said from 1 June, the price for a person filing for bankruptcy will jump £75 to £525, while a creditor petitioning for a bankruptcy will see a price rise of £100 to £700.
Charges will also increase for businesses entering into a company voluntary liquidation . Companies in this situation will have to pay £1,165 instead of the current rate of £1,000.
Meanwhile in other insolvency-related news, Frances Coulson, a partner and head of business recovery at law firm Moon Beever, has been appointed president of insolvency trade body R3.
The lawyer, who has been an active member of R3 for 15 years, takes over from Steven Law who will remain on R3's council.
"I am delighted to be taking over as president at a time when the profession is involved in debating the future make up of the industry," she said.
Coulson will remain at the helm for the next year before making way for current deputy president and Deloitte partner Lee Manning.
Insolvency Service To Raise Bankruptcy Charges
Tue, 19 Apr 2011
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