Trust Deed
A Scottish voluntary arrangement where a debtor transfers assets or makes contributions to a trustee for creditors. It may become a Protected Trust Deed if statutory conditions are met.
Related terms
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Protected Trust Deed (PTD)
A formal Scottish debt solution where a debtor transfers assets and makes agreed contributions to a trustee for creditors, gaining statutory protection once the deed becomes protected.
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Trustee in bankruptcy
The person who administers a bankruptcy estate, deals with assets and claims, and distributes available funds to creditors according to law.
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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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