Asked by: Lord Leigh of Hurley (Conservative - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what steps the Insolvency Service takes to promote the existence of its official receiver compensation scheme to creditors in insolvency procedures, where the official receiver has been appointed as the office holder.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
There is no formal Official Receiver compensation scheme. If an Official Receiver believes that their actions have caused a loss to an insolvency estate, they will seek a payment from the Insolvency Service to compensate that estate.
Asked by: Lord Leigh of Hurley (Conservative - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government how many payments the Insolvency Service has made under its official receiver compensation scheme in each year for which this information is available; and what is the total value of these payments in each year.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Payments made to estates for losses caused by an Official Receiver since 2018 are as follows:
Year | Total number of payments | Total amount paid out (£) |
2021-22 (to end Feb) | 14 | 12,738 |
2020-21 | 6 | 13,127 |
2019-20 | 5 | 2,376 |
2018-19 | 5 | 2,856 |