Sequestration where debtor has few assets
Section 6 – Circumstances where Accountant in Bankruptcy appointed as trustee
16.This section amends section 2 of the 1985 Act (‘appointment and functions of trustee in sequestration’) in order to provide for AiB to be deemed the trustee in sequestration in all cases where the debtor meets the eligibility criteria for the ‘minimal asset’ process and AiB awards sequestration of the debtor’s estate, as at present for low income, low asset debtors. It also follows recommendation 2 of the Scottish Law Commission report.
