Donald McKinnon – COO of Wbg

Comprising Trust Deeds, Debt Arrangement Schemes and sequestrations for hundreds of individual cases with a significant book value, the deal highlights Wbg’s ability to scale up considerably as a consequence of the infrastructure it has developed over the years servicing this specialist sector.

Donald McKinnon, Wbg COO, said the deal showcased the firm’s long-standing involvement in the personal insolvency market and commitment to it as a vital part of its rapidly-expanding business.

He said: “We’re delighted to have concluded this substantial purchase from Azets, whose personal insolvency clients can be assured they will receive the same high levels of professional service as they enjoyed with Azets.

“This deal bolsters our reputation as one of the leading personal insolvency advisors in Scotland – testament to which has seen us win the contract with Accountant in Bankruptcy (the Executive Agency of the Scottish Government charged with administering the process of personal bankruptcy and recording corporate insolvencies in Scotland) for an unprecedented fourth time in succession and retain it for some 14 years, the longest period ever held by any firm.”

For Azets, the sale of this personal insolvency book aligns with its own long-term strategy of investing in the growth of its core services including accountancy, tax, audit, and advisory.

Blair Milne, a restructuring and insolvency partner at Azets, said: “We are pleased to see our Scottish personal insolvency clients move to Wbg, a well-established Scottish firm with a strong track record in personal insolvency.

“This transition allows us to further invest our resource into growing our core restructuring and insolvency service offering in Scotland and beyond, while ensuring that our Scottish personal insolvency clients continue to be supported by a team with deep industry knowledge and expertise.”