Effective from 1 April 2013
Following on from representations made by a Judicial Factor and from the feedback in our recent customers survey regarding the hourly rate payable to Judicial Factors for the work undertaken in the administration of such cases, the Accountant of Court has carried out a review of the way the Accountant of Court sets remuneration.
We considered various options such as adopting a similar process to that used by the Accountant in Bankruptcy, having Judicial Factor’s enter into an agreement with the applicant regarding the level of hourly fee chargeable and increasing the hourly rate payable based on a survey of rates provided by existing factors .
As the
Scottish Law Commission is currently working on a new Judicial Factor’s Act and remuneration for Factor’s will be covered by the new Act, it was decided that a survey of rates should be carried out and a new hourly rate set based on the average of the rates provided. Letters were sent to all existing Factor’s seeking a note of their hourly charge out rates for the various types of staff involved in judicial factory work. Using the information provided, the following rates will be introduced with effect from 1 April 2013 and will be payable in all judicial factory cases for accounts submitted on or after 1 April 2013. A letter advising the new rates applicable will be issued to all existing judicial factors shortly.
The Accountant of Court will review the remuneration rates annually.
Hourly rates payable to Judicial Factors and staff with effect from 1 April 2013
Partner - £235
Manager- £170
Support staff- £85