Dear Trustee - Provision to close

Dear Trustee,

This letter gives notice of our intention to no longer require Trustees to supply an estimated provision for their final remuneration claim with scheme of division accounts in cases where there will be a reversion payable to the debtor, from Monday 4 December 2023.

Instead, Trustees’ final remuneration claims in such cases will be considered during the audit of the final account, and a detailed SIP9 will be required for review in each case.

There will be no change to the current process in cases where there will be no reversion to the debtor, and a detailed breakdown of the estimated fee to close will continue to be required and reviewed at scheme of division account stage for these cases.

Trustees are reminded that creditors are to be paid on expiry of the appeal period, eight weeks after the end date of the scheme of division account, and it is expected that after a final distribution to creditors is agreed by AiB, the final account will be submitted for audit within six months of that determination.

I would be grateful if you could bring the contents of this letter to the attention of all staff who are involved in administering bankruptcy cases.

Please send any feedback to Kirsty.prentice@aib.gov.uk no later than Friday 17 November 2023.

Yours faithfully

Kimberley Kerr

Head of Adjudications and Supervision