Scotland: execution and contractual issues

Copyright © 2025 LexisNexis

Acknowledging the importance of Scottish insolvency law to our customers we have developed a set of content on Scottish insolvency law for Scottish practitioners. The content provides an essential resource for Scottish practitioners while the guidance about the differences between insolvency law in Scotland and England and Wales will assist practitioners in England and Wales in cross-border transactions where it is necessary to have an understanding of insolvency law in Scotland.

Scotland collection

The Scotland collection is a research tool collating guidance on key areas of law that are specifically relevant to Scotland. The collection brings together Scots-law content from across a number of practice areas and includes links to Practice Notes, Checklists and Q&As as well as legal articles and analysis on legal issues directly affecting Scotland. See:

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Existing user? Sign-in TAKE A FREE TRIAL
Powered by Lexis+®
Latest Restructuring & Insolvency News

ISDA launches consultation on CDS auction lock-up agreements

The International Swaps and Derivatives Association (ISDA) has published a consultation paper proposing new solutions for handling lock-up agreements in Credit Default Swap (CDS) auctions. The proposal seeks to establish a uniform treatment of Locked Up Debt within CDS settlement processes—addressing issues related to market squeezes and auction timing. It responds to concerns about the disproportionate impact of Lock-Up Agreements on CDS settlements during restructuring and bankruptcy scenarios. Market participants are invited to submit feedback on the proposed solution by 8 August 2025 to Fred Quenzer, Senior Counsel, America, at fquenzer@isda.org.

Restructuring & Insolvency weekly highlights—3 July 2025

This week's edition of Restructuring & Insolvency weekly highlights includes: an examination of a liquidator’s discretion to convert a members’ voluntary liquidation to a creditors’ voluntary liquidation (Noal SCSp v Novalpina Capital LLP), a discussion of the Supreme Court’s decision on undue influence in surety relationships in Waller Edwards v One Savings Bank Plc, plus a round-up of other news and cases for restructuring and insolvency professionals.

R3 responds to Insolvency Service's personal insolvency framework reform update

The Association for Business Recovery Professionals (R3) has responded to the Insolvency Service's first major update on the Personal Insolvency Framework Review since August 2023. The update proposes mandatory upfront debt advice, technology integration, and terminology reforms to reduce stigma. R3's Personal Insolvency Committee Chair, Nicky Fisher, welcomed the proposals but stressed that careful implementation is essential to maintain creditor confidence. The review seeks to modernise the insolvency framework to reflect current economic conditions while ensuring robust protections remain in place for both creditors and debtors.

Insolvency Service reports 11-year director ban for BBL fraud

The Insolvency Service has reported the disqualification of building contractor Tahir Haq from serving as a company director for 11 years, accompanied by mandated compensation payments totalling £58,963 (including interest and costs). Haq obtained a £50,000 bounce back loan (BBL) for Integral Maintenance Team Ltd by overstating his company's turnover by £200,000, despite the company being entitled to only around £3,000. The disqualification, effective from 1 July 2025, prohibits Haq from promoting, forming, or managing any company without prior court approval.

View Restructuring & Insolvency by content type :  
News
Practice notes
Precedents
Q&As

Popular documents

Scotland: set-off in the context of insolvency

Scotland: set-off in the context of insolvencyIntroductionIn practice, the phrase ‘set off’ in Scotland is generally used as a generic term covering the operation of certain principles which allow a debtor to resist a claim for payment against them (either partially or fully) on the basis of

Priority between loss reliefs in loss making companies

Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a

Can shares in a limited company that have not been paid-up at all be cancelled?

Can shares in a limited company that have not been paid-up at all be cancelled?A limited company having a share capital may not alter that share capital, except in the ways listed in section 617 of the Companies Act 2006 (CA 2006). Shares in a company cannot simply be cancelled without following an

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin
Scotland: set-off in the context of insolvency

Scotland: set-off in the context of insolvency

Scotland: set-off in the context of insolvencyIntroductionIn practice, the phrase ‘set off’ in Scotland is generally used as a generic term covering the operation of certain principles which allow a debtor to resist a claim for payment against them (either partially or fully) on the basis of

Priority between loss reliefs in loss making companies

Priority between loss reliefs in loss making companies

Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a

Can shares in a limited company that have not been paid-up at all be cancelled?

Can shares in a limited company that have not been paid-up at all be cancelled?

Can shares in a limited company that have not been paid-up at all be cancelled?A limited company having a share capital may not alter that share capital, except in the ways listed in section 617 of the Companies Act 2006 (CA 2006). Shares in a company cannot simply be cancelled without following an

Glossary—Latin legal terms

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin