Bankruptcy and Diligence etc. (Scotland) Act 2007

Prospective

94 Preliminary hearing on application for warrant to sell S

(1) The sheriff must, on receiving an application under section 92(1) of this Act and after expiry of the period mentioned in subsection (6) of that section—

(a) hold a hearing; and

(b) give the persons mentioned in subsection (5) of that section the opportunity of making representations.

(2) The creditor must attend the hearing whether or not the application is opposed.

(3) The sheriff must, if satisfied that the application is in order, make an order—

(a) fixing a date for a hearing on the application under section 97 of this Act;

(b) requiring the creditor to intimate that date to the persons mentioned in section 92(5) of this Act;

(c) appointing a chartered surveyor or other suitably qualified person to report on the open market value of the land specified in the application (that surveyor or other person, and their report, being referred to in this Chapter as the “valuer” and the “valuation report” respectively); and

(d) where any security or diligence is held in relation to the land specified in the application and the creditor has been unable to ascertain the amount of the sums secured by that other security or diligence, requiring the holder of that security or diligence to disclose to the creditor—

(i) the amount of the sums secured; and

(ii) where the security holder is obliged to pay any other sums which would be secured by that security to the debtor, the amount of such sums.