Debt Arrangement Scheme
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The Accountant in Bankruptcy (AiB) is the Scottish
government agency A government agency or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government (bureaucracy) that is responsible for the oversight and administration of specific functions, s ...
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 corpora ...
and corporate insolvency, 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 favor of the trus ...
s and
diligence Diligence—carefulness and persistent effort or work—is listed as one of the seven Seven virtues#Seven capital virtues, capital virtues. It can be indicative of a work ethic, the belief that work is good in itself. : "There is a perennial ...
. It reports to the
Scottish Government The Scottish Government (, ) is the executive arm of the devolved government of Scotland. It was formed in 1999 as the Scottish Executive following the 1997 referendum on Scottish devolution, and is headquartered at St Andrew's House in ...
's Minister for Business, Fair Work and Skills, who is
Jamie Hepburn James Douglas Hepburn (born 21 May 1979) is a Scottish politician who has served as the Minister for Parliamentary Business since May 2024. A member of the Scottish National Party (SNP), he has been Member of the Scottish Parliament (MSP) for ...
. The agency is based in Pennyburn Road,
Kilwinning Kilwinning (, ; ) is a town in North Ayrshire, Scotland. It is located on the banks of the River Garnock in Ayrshire, west/central Scotland, about southwest of Glasgow. Kilwinning's neighbours are the coastal towns of Stevenston to the west an ...
, Ayrshire.


See also

*
Court of Session The Court of Session is the highest national court of Scotland in relation to Civil law (common law), civil cases. The court was established in 1532 to take on the judicial functions of the royal council. Its jurisdiction overlapped with othe ...
*
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 Courts of Scotland, Scottish courts. The law of diligence is part of the l ...
*
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 lat ...
*
Scheme of arrangement Scheme or schemer may refer to: Arts and entertainment * '' The Scheme'', a BBC Scotland documentary TV series * The Scheme (band), an English pop band * ''The Scheme'', an action role-playing video game for the PC-8801, made by Quest Corporatio ...
*
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).{{Citation needed, date=November 2023 ICAS act as a voice of the professional business community. Although other Brit ...
*
Insolvency Practitioners Association The Insolvency Practitioners Association (IPA) is Recognised Professional Body (RPB)for the UK insolvency profession, responsible for licensing and regulation of its Insolvency Practitioner members under insolvency and Anti-Money Laundering (AML) ...
*
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 dilige ...


References


External links

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