Bankruptcy (Scotland)
The Scottish personal insolvency process, commonly called sequestration, under which a trustee administers the debtor’s estate for creditors.
Related terms
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Sequestration
The Scottish legal term for bankruptcy, under which a trustee administers the debtor’s estate for creditors.
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Bankruptcy (Scotland) Act 2016
The principal Scottish legislation governing bankruptcy and related debt procedures in Scotland, as amended from time to time.
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Accountant in Bankruptcy (AiB)
The Scottish public body responsible for overseeing bankruptcy, protected trust deeds and the Debt Arrangement Scheme in Scotland.
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