5. Insolvency practitioner services

Insolvency practitioner services

This section contains content published after 1 January 2020. Articles published before this date can be found on the National Archives here

80. Electronic Signatures on Requisitions

As part of our business continuity planning during Covid-19 and to ensure we can support flexible working arrangements, we have been reviewing the payment process. As a result, it has been agreed that with immediate effect, electronic signatures on requisitions will be accepted.

The signature will still be checked against the signature that is held on our database, however we will no longer be checking that it is a wet signature.

Unfortunately, we are not in a position at present to accept payment requests electronically, therefore you will still need to post your requisitions. We are working on a solution that will allow us to accept requisitions by e-mail and will keep you updated on progress.

Enquiries regarding this article may be sent to: CustomerServices.EAS@insolvency.gov.uk

81. Processing of unpaid monies: Acceptance of CAU103 & 104 forms by email

As part of our business continuity planning during COVID-19, we have changed the way we deliver our services.

With immediate effect CAU 103 and 104 forms will be accepted via email.

To facilitate this new process, we ask that each CAU 103/104 form be sent by separate email to Customerservices.eas@insolvency.gov.uk.

The signature on the requisition will then be checked against the signature held on our database. We will also check that the form is received from the email address of the case owner or one of their nominated representatives.

Please pay the monies electronically (via BACS, Faster Payment or CHAPS) using the details below. This will enable us to allocate the monies correctly and promptly:

Sort Code: 60-70-80

Account Number: 10003231

Account Name: GBS RE Insolvency Service

Reference: U/C * IP Surname *

We anticipate that this revised process may affect the time within which we deal with each requisition and we will aim to process each request within seven working days.

This is the first time we have been able to accept electronic requisition and hope to do so with minimal disruption to our customers. We ask for your patience as the process is rolled out.

Enquiries regarding this article may be sent to: CustomerServices.EAS@insolvency.gov.uk

82. Payments against Proofs of Debts

Owing to government instructions to stay at home our offices are closed. Therefore, we cannot currently receive cheques from insolvency practitioners for payments against proof of debts.. As an alternative, insolvency practitioners can submit receipts and make payments electronically. Practitioners will need to add the CN reference number to the payment so that we can match the receipt to the right account.

Practitioners should use the following payment information:

Bank: National Westminster Bank Account name: INSS RP Receipts Sort code: 60-70-80 Account number: 10002448 IBAN: GB14NWBK60708010002448

Enquiries regarding this article may be sent to: CustomerServices.EAS@insolvency.gov.uk

83. Closing an estate held in the Insolvency Service Account

Over recent months, we have received requests for case closure without the relevant documentation. Estate Accounts and Scanning (EAS) would like to remind Insolvency Practitioners of what is required to close an estate account.

In preparation for closure the following should take place:

  • The case must be taken off “Interest Bearing” - this ensures the final interest is credited to the case.
  • The appropriate CAU form must be submitted to request any remaining credit balance and bring the balance of the case to nil.

Once the case financials have been dealt with and there is a nil balance (or debit balance where there are insufficient realisations) the following two stage process should be followed:

Stage 1

  • A covering email with instructions to close the account must be sent to CustomerServices.EAS@insolvency.gov.uk
  • This e-mail must attach a copy of the final receipts and payments account (Form 1) detailing any remaining funds not distributed.
  • At this point, the estate account will be closed preventing any further charges and a closing statement will be issued.
  • EAS require four working days to process a request to close an account. If the closure request is received by EAS less than four working days before the quarterly charge date, the fee will automatically be charged to the estate.

Stage 2

  • At the end of the prescribed period, a copy of the ‘Notice to Court of Final Meeting of Creditors’ (Form 3.31 or Form WU15 for liquidations and 10.87 for bankruptcies) should be sent to EAS.
  • Release will not occur until the notice is received. It should be signed and dated by the Trustee/Liquidator and sent at the end of the prescribed period.
  • A copy of a final receipts and payments account (R&P).
  • In bankruptcy cases the final notice and R&P should also be sent to the Official Receiver.

Any objections to the Trustee/Liquidator’s release should be submitted with the final report.

Should you have any queries or concerns, please do not hesitate to contact us at CustomerServices.EAS@insolvency.gov.uk