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Bankruptcy is often referred to as sequestration in Scotland and both terms mean the same thing. From 1 April 2008, a number of applications that used to be dealt with by the courts transferred to the Accountant in Bankruptcy.
There are few applications that are now dealt with by the Scottish Courts and Tribunals Service; the main applications are petitions for sequestration from creditors or trustees. If an individual is looking to apply to be made bankrupt/sequestrated, they now apply to the Accountant in Bankruptcy. The court does also deal with some other miscellaneous applications in the bankruptcy process.
The Accountant in Bankruptcy has produced some helpful guidance in relation to debtors applications for bankruptcy.
Legislation relating to bankruptcy can be found on the Accountant in Bankruptcy website.
On 30 November 2016 the Bankruptcy (Scotland) Act 2016 came into force. It applied to sequestrations in which the petition is presented or the debtor application made on or after 30 November 2016. The Bankruptcy (Scotland) Act 1985 will continue to apply to all sequestrations where the petition was presented or the debtor application was made before 30 November 2016.
New Sheriff Court Bankruptcy Rules were also made and apply only to cases proceeding in terms of the 2016 Act.
Rules applying to sequestrations in which the petition is presented or the debtor application made, on or after 30 November 2016.
Please note: Rules applying to sequestrations in which the petition was presented or the debtor application was made on and after 1 April 2008 and before 30 November 2016 are contained in the Act of Sederunt (Sheriff Court Bankruptcy Rules) 2008.
2016 Bankruptcy Rules - Sheriff Court Forms applying to sequestrations in which the petition is presented or the debtor application is made, on or after 30 November 2016.
2008 Bankruptcy Rules - Sheriff Court Forms applying to sequestrations in which the petition was presented or the debtor application was made on and after 1 April 2008 and before 30 November 2016.
The fees for applying for creditors/trustees applying for sequestration/bankruptcy, and the fees for other miscellaneous bankruptcy applications can be accessed in the Sheriff Court Fees section.
If you have any questions about bankruptcy proceedings, please visit the Accountant in Bankruptcy website.