Insolvency Service (Hansard, 25 March 1999)

§ Mr. Byers

The Insolvency Service's planning assumption is that compulsory insolvencies will total 26,000 in the year to 31 March 2000, and I have therefore set it the target of completing case administrations to match new case input so that the number of cases outstanding at 31 March 2000 is maintained at the level as at 31 March 1999, with no more than 5 per cent. of cases being more than 36 months old. I have also set it the targets of reducing the unit costs of administering bankruptcy and compulsory liquidation cases by 5 per cent. in real terms over the period 1999–2002; and reducing the cost of investigations of bankruptcy and compulsory liquidation cases by 10 per cent. in real terms over the period 1999–2002. Despite this reduction, I expect The Service to continue to achieve at least the levels of proceedings for disqualification taken against unfit directors and reports on cases of criminal misconduct as in the current year.

In addition, I have set The Service the following quality of service targets for 1999–2000: to report to creditors on assets and liabilities within 8 weeks in at least 97 per cent. of all cases; and within 12 weeks in 98 per cent. of all cases; to hold the initial meetings of creditors within 12 weeks in 96 per cent. of all appropriate cases, and within 4 months in 98 per cent. of all appropriate cases; to submit reports within 10 months in at least 90 per cent. of bankruptcy cases, and at least 80 per cent. of company liquidation cases where there is evidence of criminality; to submit disqualification reports within 15 months in at least 80 per cent. of cases where there is evidence of unfit conduct by directors; and to check and action at least 97 per cent. of Insolvency Services Account payment requisitions within 4 days or by the due date.

The Service is also expected to action 100 per cent. of invoices for payment within 30 days of receipt and the Agency Chief Executive is expected to reply within 10 days to all letters from Members of Parliament delegated to him for reply.