Scotland: the Accountant in Bankruptcy
Produced in partnership with James Lloyd of Harper Macleod LLP

The following Restructuring & Insolvency practice note produced in partnership with James Lloyd of Harper Macleod LLP provides comprehensive and up to date legal information covering:

  • Scotland: the Accountant in Bankruptcy
  • Coronavirus (COVID-19)
  • The legal nature of the AiB
  • Statutory functions of the AiB
  • Supervisory functions
  • Determining debtor applications
  • The Register of Insolvencies
  • Annual report
  • Acting as trustee
  • Quasi-judical role of the AiB
  • More...

Scotland: the Accountant in Bankruptcy

The office of the Accountant in Bankruptcy (AiB) was created by section 156 of the Bankruptcy (Scotland) Act 1856 . Previously, the functions of the AiB were limited but since 1993, with the enactment of the Bankruptcy (Scotland) Act 1993 (B(S)A 1993), the role has expanded quite considerably. The AiB is now responsible for, not only, supervising the bankruptcy process in Scotland but also carrying out a number of administrative and quasi-judicial functions previously exercised by the court. The AiB also assists Scottish Ministers to formulate policy in a wide range of matters relating to personal and corporate insolvency and diligence.

The purpose of this Practice Note is to examine the role, functions and responsibilities of the AiB. For a glossary of commonly used Scottish insolvency terms, see Practice Note: Glossary of Scottish insolvency words and expressions.

Coronavirus (COVID-19)

This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19) toolkit. For related news, guidance and other resources to assist practitioners working on restructuring and insolvency matters, see: Coronavirus (COVID-19)—Restructuring & Insolvency—overview and News Analysis: The Coronavirus (Scotland) (No 2) Bill—impact on restructuring and insolvency and LNB News 07/07/2021 29.

The legal nature of the AiB

The AiB is a creature of statute being established by section 199 of the Bankruptcy (Scotland) Act 2016 (Ba(S)A 2016) and

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