ISS Prescribed Part Distributions
In our experience, the average prescribed part is around £50,000 to £60,000. There have been various court decisions that emphasize our requirement to return the prescribed part to creditors as quickly and as efficiently as possible.
At ISS we provide an efficient, low-cost prescribed part claims approval process that satisfies minimum statutory requirements but which also meets key quality criteria.
We will collate and check existing claim documentation from creditors and issue notices of proposed dividend to unsecured creditors who have not yet submitted a claim, before admitting or rejecting claims received.
We will then notify creditors where claims are rejected and deal with any appeals received, before preparing and issuing formal notice of declaration of dividend to proving creditors participating against the prescribed part.
Prices depend on the value of the prescribed part and the number of creditors, but start from £2,500 (exc VAT) per part distributed.