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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.

9. Safeguarding the interest of creditors

This section refers to Part 7 of the Act, sections 98 to 107.

The trustee should weigh up the benefit to creditors prior to instigating any of the following actions and consider:

  • the amount that may be ingathered to the estate following the deduction of any legal or court costs
  • can an agreement be reached between the parties which negates the need for court costs
  • would a creditor consider underwriting the costs to ingather the funds
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