Hi,could someone tell me if under their due diligence,a ip supervisor is obliged to obtain proof of claim from the creditors,and if so what is required for proof of claim? Many thanks
The IP will want to see back up for any claim before paying out. This is usually a statement or for private individuals evidence of bank transfers, cheques etc suffice.
Hi - As Michael says the Supervisor should ask for supporting documents however in practice if a claim is for the same or less than the debtor originally estimated they may be happy to accept without evidence. Anything over the original estimate is at the Supervisor's discretion. There is a new rule coming into force soon that means we can accept claims for less than £1k without any paperwork...!