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Bankruptcy and Diligence (Scotland) Bill introduced to parliament

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Published on: 25 May 2023

Published by a LexisNexis Restructuring & Insolvency expert

Table of contents

Overview
Mental health moratorium
Minor or technical amendments to existing bankruptcy legislation
Diligence measures
Next steps

Article summary

Restructuring and insolvency analysis: The Bankruptcy and Diligence (Scotland) Bill (the “Bill”) was introduced to the Scottish Parliament on 27 April 2023. The stated purpose of the Bill is to bring forward stakeholder-led recommendations to introduce improvements to current insolvency solutions. As well as making technical changes to bankruptcy legislation, its aim is to help and improve the lives of people who are struggling with problem debt and serious mental health issues. Written by Steven Wood of The Institute of Chartered Accountants of Scotland (ICAS).

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