The SNP has called on the UK Government to review insolvency rules after it was revealed administrators have taken half the money recovered from the collapsed Farepak hamper firm, while customers continue to wait for compensation.

Newspaper reports show that of the £6 million recovered so far, £3 million has paid the bills of accountants and lawyers.

Meanwhile customers are expected to receive only 5p for every pound lost and a report into the collapse has still to be published.

Angus MP Mike Weir – SNP spokesperson on Business and Regulatory Reform, whose constituents suffered in the collapse of Farepak said:

"It is the final insult that, after three years, the Farepak victims have been left with pennies while the administrators have made millions.

"Farepak victims have already seen the bankers that shut them down walk away with their bonuses and benefits packages – now they are seeing the organisation supposed to recover the money taking more than it is giving.

"I hope this situation can be resolved and farepak victims will finally receive a decent compensation package.

"The UK government needs to take a serious look at the workings of the insolvency industry which is raking in a fortune at the expense of creditors."