Accountant in Bankruptcy operates on behalf of the Scottish Government which is responsible for devolved elements of corporate insolvency.
AiB develops policy for certain aspects of corporate insolvency and is responsible for receiving and recording information on liquidations and receiverships of Scottish businesses, held in the Register of Insolvencies.
AiB's responsibilities include;
- the development of policy specific to our administrative duties for liquidation,
- the development of policy on receivership, and
- the managment and maintenance of the Register of Insolvencies.
The Register contains details of liquidation and receivership of Scottish businesses which are wound up by either a Sheriff Court or the Court of Session, depending on circumstances.
These Courts have jurisdiction to wind up limited companies registered in Scotland and unregistered companies with a principle place of business in Scotland.
AiB can only give advice in relation to devolved matters.
The reserved elements remain the responsibility of the UK Government and are dealt with by the Insolvency Service, which is part of the Department for Business, Energy and Industrial Stretegy.
Reserved elements include:
- Company voluntary arrangements
- Legal effects of liquidation
- Regulation of insolvency practitioners
Information on reserved elements are available on the Insolvency Service website.
What can I find here?
This section provides an overview of the different types of processes involved in corporate insolvency with links to the relevant legislation and forms. For detail on each click on a link below.
If you cannot find the information you are looking for and would like to speak with a member of our team please contact us with your query by submitting your enquiry by email or call us on 0300 200 2600.