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Sequestration Petitions

Sequestration Petitions

The amount of work required to present and proceed with a petition for sequestration (bankruptcy) of a debtor is generally predictable, as is the amount of expenses that a court shall normally award to the petitioning creditor.

We accordingly are able to offer a fixed fee for this work of £1,200 including vat. There are various court outlays and fees to the accountant in bankruptcy that shall be payable in addition to the fee.

The fee includes:

a) taking your instructions at an initial meeting and checking that the statutory criteria for bankruptcy are met.

b) preparing the bankruptcy petition and the associated productions.

c) liaising with either or both of the Office of the Accountant in Bankruptcy and/or your chosen Trustee.

d) lodging the petition with the court, obtaining warrant to serve and instructing Sheriff Officer service (the Sheriff Officer's fee is an additional outlay).

e) returning the served papers to court in advance of the case calling.

f) liaising with either the debtor or their representative on your behalf should they make contact with regards to potential payment of the sums due to avoid bankruptcy.

g) conducting the initial calling and any continued callings of the petition in court.

h) reporting to you after the final calling of the petition in court with final advice.

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