Detailed plans have been unveiled for the reorganisation of the Official Receivers (OR) Rotas, following the first announcement last month.
The news means that insolvency practitioners (IPs) will witness a complete revamp in how cases are allocated.
As it stands, bankruptcy and liquidation cases are passed on to practitioners in a rota system, but the new system will mean that individual firms will have to meet new, tougher criteria as admission to the rota system will be on a firm-basis rather than by individual IP.
In a statement on its website, R3 – the Association of Business Recovery Professionals – acknowledged that there has been some liaison between ourselves and the Insolvency Service and that they had agreed some changes to the way the rotas are administered.
It continued: “Those changes have been agreed after extensive consultation with R3 members and, notwithstanding the fact that the reorganisation plans are on hold, both the Service and ourselves are keen to put through the agreed changes to the rota system.”
Currently, the Official Receivers offices are controlled through four Regional Directorates namely Northern, Central & Eastern, London & the South East and Western and there are some 33 rotas that are controlled across those regions.
The timetable for the changes is as follows:
20 July 2012:
New system details published
20 July 2012 – 21 Sept 2012:
ORs appoint staff and complete training for local management of the rotas.
23 July 2012 – 27 July 2012
Rota details published on website alongside R3 initiatives to publicise the system and invite applications under the new criteria.
23 July 2012 – 6 August 2012
Letters to all R3 members inviting them to apply for the new rota and informing them of new criteria. The initial letter will be sent to the firm that the member is part of.
23 July 2012 – 31 August 2012
Applications for inclusion on Rota received by local OR.
31 August 2012
Last date for applications.
23 July 2012 – 7 September 2012
17 September 2012
23 July 2012 – 17 September 2012
Decision letters sent out by ORs.
21 September 2012
New rotas published on intranet and website and sent to R3