Interest on delayed fee payments requires insolvency professionals to pay simple interest to the Board, preserving other remedies. Delay in payment of fees by an insolvency professional or an insolvency professional entity attracts a simple interest at the rate of 12% per annum ... Summary
Interest on delayed fee payments requires insolvency professionals to pay simple interest to the Board, preserving other remedies.
Delay in payment of fees by an insolvency professional or an insolvency professional entity attracts a simple interest at the rate of 12% per annum payable to the Board on the unpaid fee amount after the last date for payment; this obligation is without prejudice to any other action the Board may take under the Code or regulations.
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