The Accountant in Bankruptcy (AiB), the Scottish Government body which deals with insolvency in Scotland, has released its latest statistics today (24 January). The figures released relate to last quarter of 2017 and show a continuing drop in the number of bankruptcy awards.

However, there has been an increase in the use of the Debt Arrangement Scheme (DAS) and protected Trust Deeds (PTDs) which means that there is a small increase in the overall levels of personal insolvency. The AiB only maintains partial corporate insolvency figures but they have recorded there has been a slight drop in the number of liquidations.

Whilst these figures are broadly heartening, given the present uncertain economic outlook, it is always best to take early advice if you have any insolvency concerns.

If you would like to discuss your situation with one of our experts, please contact our Dispute Resolution and Litigation team.