beta This is a new service. Your feedback will help us to improve it.

Notes for Guidance - Bankruptcy (Scotland) Act 2016 (as amended)

This guidance describes the general functions of Accountant in Bankruptcy, interim trustees, trustees and commissioners in relation to their responsibilities regarding bankruptcies which started on or after 30 November 2016.

10.4 Unrealisable assets vested in trustee

While the trustee remains in office they must make arrangements as necessary to safeguard their interests in any asset.

The trustee should:

  • remind the debtor the interest remains vested in the trustee
  • in advance of the earliest possible payment date remind the holder of the asset of the trustee’s right to it

The Accountant will not grant a certificate of discharge to a trustee who remains vested in estate of potential substantial value.

Back to top