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The Accountant in Bankruptcy (AiB) is the Scottish
government agency A government or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an administrati ...
responsible for administering the process of
personal bankruptcy Personal bankruptcy law allows, in certain jurisdictions, an individual to be declared bankrupt. Virtually every country with a modern legal system features some form of debt relief for individuals. Personal bankruptcy is distinguished from corporat ...
and
corporate insolvency In accounting, insolvency is the state of being unable to pay the debts, by a Natural person, person or company (debtor), at Maturity (finance), maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: Cash flow ...
, administering the Debt Arrangement Scheme (DAS), and implementing, monitoring and reviewing government policy in these and related areas, for example
protected trust deed A protected trust deed, overseen by the Accountant in Bankruptcy, is a voluntary but formal arrangement that is used by Scottish residents where a debtor (who can be a natural person or partnership) grants a ''trust deed'' in favour of the trus ...
s and
diligence Diligence—carefulness and persistent effort or work—is one of the seven heavenly virtues. It is indicative of a work ethic, the belief that work is good in itself. In students Bernard et al. suggest that diligence in students is define ...
. It reports to the Scottish Government's
Minister for Business, Fair Work and Skills The Minister for Business, Trade, Tourism and Enterprise is a Junior ministerial post in the Scottish Government. As a result, the Minister does not attend
, who is
Jamie Hepburn James Douglas Hepburn (born 21 May 1979) is a Scottish politician who has served as Minister for Higher Education and Further Education, Youth Employment and Training since 2021. A member of the Scottish National Party (SNP), he has been Member ...
. The agency is based in Pennyburn Road,
Kilwinning Kilwinning (, sco, Kilwinnin; gd, Cill D’Fhinnein) is a town in North Ayrshire, Scotland. It is on the River Garnock, north of Irvine, about southwest of Glasgow. It is known as "The Crossroads of Ayrshire". Kilwinning was also a Civil Pa ...
, Ayrshire.


See also

*
Court of Session The Court of Session is the supreme civil court of Scotland and constitutes part of the College of Justice; the supreme criminal court of Scotland is the High Court of Justiciary. The Court of Session sits in Parliament House in Edinburgh ...
*
Diligence (Scots law) Diligence is a term in Scots Law with no single definition, but is commonly used to describe debt collection and debt recovery proceedings against a debtor by a creditor in Scottish courts. The law of diligence is part of the law of actions in Sc ...
*
Reconstruction (law) {{distinguish, Restructuring Reconstruction, in law, is the transfer of a company's (or several companies') business to a new company. The old company will get put into liquidation, and shareholders will agree to take shares of equivalent value in ...
*
Sequestration (law) In law, sequestration is the act of removing, separating, or seizing anything from the possession of its owner under process of law for the benefit of creditors or the state. Etymology The Latin ''sequestrare'', to set aside or surrender, a late ...
*
Scheme of arrangement A scheme of arrangement (or a "scheme of reconstruction") is a court-approved agreement between a company and its shareholders or creditors (e.g. lenders or debenture holders). It may affect mergers and amalgamations and may alter shareholder o ...
*
Institute of Chartered Accountants of Scotland The Institute of Chartered Accountants of Scotland (ICAS) is the world's first professional body of Chartered Accountants (CAs). It is a regulator, educator, influencer and thought leader. ICAS act as a thought leader and voice of the professiona ...
*
Insolvency Practitioners Association The Insolvency Practitioners Association (IPA) is a professional body whose purpose is to inform and regulate insolvency practitioners (IPs) within the UK and Ireland. There is a similar organisation in Australia. History Formed in 1961 as a di ...
*
Debtors (Scotland) Act 1838 The Debtors (Scotland) Act 1838 (1 & 2 Vict. c. 114), sometimes the Personal Diligence Act, was an Act of Parliament in the United Kingdom, signed into law on 16 August 1838. It amended the law of Scotland in matters relating to personal diligenc ...


References


External links

* Scots law Executive agencies of the Scottish Government Bankruptcy in Scotland Organisations based in Edinburgh {{finance-stub