Accountant in Bankruptcy - Scotland

Most corporate insolvency functions are carried out in Scotland by the UK Government.  In personal insolvency:

• AiB determines all applications for bankruptcy made by the debtor themselves
• Acts as the trustee of last resort in all cases where no private trustee has been appointed (about 80% cases)
• Supervises the actions of private trustees, including approving fees and plans to deal with property
• Authorises the discharge of all bankrupts
• Investigates potential wrongdoing by debtors or trustees
• Maintains the public register
• Awards “protected” status to trust deeds, and supervises the work of private trustees administering such trusts
• Administers the Debt Arrangement Scheme (see section on Alternatives to Bankruptcy below)
• Advises the Scottish Government on policy and legislation to do with the above, though policy remains that of Ministers