Question to the Department for Business, Innovation, Science and Trade:

To ask the Secretary of State for Business, Innovation, Science and Trade, what oversight mechanisms are in place governing the fees and expenses charged by insolvency practitioners in large property administrations involving hundreds of individual purchasers.

Insolvency practitioners must follow statutory requirements and regulatory guidance on how their remuneration must be reported. The requirements seek to ensure that fees are a fair and reasonable reflection of the work undertaken while appointed.

Insolvency practitioners are subject to a robust regulatory regime, where they are monitored by Recognised Professional Bodies, who are themselves subject to oversight regulation by the Secretary of State.

Creditors are given opportunities to question fees and challenge them, with the court being the ultimate arbiter if disputes cannot be resolved.