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With the best will in the world sometimes liabilities simply cannot be met and bankruptcy, whether voluntary or not, can be the only answer.

Insolvency exists where a person or a company cannot pay their debts. An insolvency practitioner (IP) is usually appointed as a trustee, with the main purpose of selling all available assets to gather enough funds to pay the creditors.

Types of Insolvency

In Scotland, there are two forms of insolvency. These are sequestration (otherwise known as bankruptcy) and the protected trust deed under the Bankruptcy (Scotland) Act 1985, as amended by the Bankruptcy and Diligence etc. (Scotland) Act 2007.

Whether you are the debtor, the creditor or the trustee we are able to advise on and take the actions necessary to help you through the insolvency process.

Contact our Insolvency Law Expert in Glasgow, David Doig

To find out how our Glasgow insolvency lawyers can help you or to arrange an initial consultation with one of our insolvency solicitors, please complete our online enquiry form or contact us on 0141 248 3456.

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