Bankruptcy

Protections for people who are in debt and experiencing mental health problems have been approved by the Scottish Parliament. The Bankruptcy and Diligence (Scotland) Bill includes the power to bring in a pause on debt recovery action until six months after the person has finished treatment.

Former MSP Tommy Sheridan has been declared bankrupt after failing to pay over £82,000 in legal costs arising from his failed judicial review against the Scottish Criminal Cases Review Commission (SCCRC). Mr Sheridan was jailed for three years in 2011 after being found guilty of lying in evide

Cineworld has responded to speculation that the company is filing for bankruptcy in the US saying it is considering the option.

The number of personal insolvencies seen across Scotland rose by 11.2% during the first six months of 2022. Amid spiralling inflation and rising interest rates, fuel and energy costs continue to put households under pressure leading to an increase in personal insolvencies.

The Scottish government contract managed by the Accountant in Bankruptcy (AiB) has just been announced and awarded to two Scottish businesses, Dunedin Advisory Ltd and Wylie & Bisset. In the case of Wylie & Bisset, the contract has been awarded for an unprecedented fourth time in succession.