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Notes for Guidance - Protected Trust Deeds Bankruptcy (Scotland) Act 2016

This guidance describes the general functions of Accountant in Bankruptcy and trustees in relation to their responsibilities regarding protected trust deeds (PTDs) which were granted on or after 30 November 2016


4.7 Petition by the trustee

The trustee can petition a sheriff for a debtor to be made bankrupt under section 2(1)(b)(iv) of the 2016 Act if:

  • the debtor has failed to comply with an obligation under the trust deed
  • a reasonable requirement or instruction of the trustee
  • the trustee avers that bankruptcy is in the best interest of creditors
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