Time and tide (and changes to insolvency legislation) wait for no man…
Changes are being made to the legislation governing insolvency matters in Scotland. On 30 May 2014, the Insolvency (Scotland) Amendment Rules 2014 came into force altering the rules that regulate administrations, liquidations and receiverships in Scotland. Significant changes are also to be made to the personal insolvency regime in terms of the Bankruptcy and Debt Advice (Scotland) Act 2014, which will be implemented by supporting regulations and is expected to come into force on 1 April 2015. As a result, the Scottish government has put the planned Bankruptcy Consolidation Bill on hold to allow the reforms to ‘bed in’.
The purpose of this article is to highlight the main changes and what impact they might have on the conduct of insolvency cases.
The 2014 rules will amend the Insolvency (Scotland) Rules 1986, which apply to the corporate insolvency procedures in Scotland. There have also been small changes to the Court of Session and Sheriff Court Rules to reflect the amendments made in the 2014 rules…
Click on the link below to read the rest of the Shepherd and Wedderburn briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Shepherd and Wedderburn
News from The Lawyer
Briefings from Shepherd and Wedderburn
The Scottish Government published an analysis of all non-confidential responses to the public consultation.
Practical steps that parties to construction contracts should consider.
Analysis from The Lawyer
With banking, personal injury and M&A all down, law firm mergers are in the bracing Scottish air