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For creditors

Information for creditors

Creditors play an important role in every insolvency process. Below is the guidance we think is most useful for understanding those processes, and our role within them.

Our role is a regulated one

As licensed insolvency practitioners, our actions are governed both by statute and by regulatory guidance. The links below take you to the primary sources, so you can see for yourself what we are required to do rather than taking our word for it.

Insolvency statutes

The primary legislation and rules governing insolvency processes in England and Wales.

Statements of Insolvency Practice

SIPs set the standards office holders are expected to meet. They are issued by the recognised professional bodies and apply to us directly.

Creditors' guides to fees

How office holders may be remunerated, and the say creditors have in fixing that remuneration.

Creditors’ committees

Committees give creditors a formal role in overseeing an insolvency process.

Our charge-out rates and expenses

We publish our charge-out rates and our expenses policy in accordance with SIP 9. Download our charge-out rates and expenses policy (PDF), or see the fees page. If you would rather have a copy sent to you, please email info@arafino.com.

Dealing with a case?

If you are a creditor in a case we are handling and need something specific (a proof of debt form, a copy of a report, or an update), contact us directly on 020 3019 0224 and we will deal with it.

Creditors: common questions

How do I submit a claim in an insolvency?
You will normally receive correspondence from the office holder setting out how to submit a proof of debt, together with the relevant form. If you have not received it, contact us and we will send it to you.
Will I be paid, and when?
That depends on the assets available and where your debt ranks in the statutory order of priority. Secured creditors are paid first, followed by preferential creditors, then unsecured creditors. The office holder will report to you on the likely outcome and the expected timing.
How are the office holder’s fees decided?
Fees must be approved, usually by the creditors or by a creditors’ committee, and the basis of the fee (time costs, a percentage of realisations, or a fixed amount) has to be agreed. The creditors’ guides to fees above explain the process and the rights you have.
What is a creditors’ committee and should I join one?
A committee is a small group of creditors that oversees the office holder’s conduct of the case, approves fees and can be consulted on decisions. Joining gives you far more visibility of the case. There is no charge for serving on one.
I think assets have been moved improperly. What can I do?
Tell the office holder. Investigating directors’ conduct and recovering assets is part of the statutory role, and information from creditors is frequently how those matters come to light.

Need to speak to someone about a case?

Tell us which company or individual is involved and we will put you through to the person handling it.

Speak to an adviser 020 3019 0224