Personal Insolvency
In Scotland, a Statutory Demand which has not been met with a denial from the Debtor constitutes apparent personal insolvency. An expired Charge for Payment following upon a Decree for a minimum of amount of £1,500 (shortly to be raised to £3,000) similarly demonstrates apparent personal insolvency.
In these circumstances we present to the court a Petition for the Debtor’s Sequestration (Bankruptcy) and, where appropriate, seek the appointment of an Interim Trustee where assets of the Debtor require to be protected for the benefit of Creditors.
Contact: Angus Wood, Partner arw@bto.co.uk T. 0141 221 8012