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Bankruptcy (Scotland) Act 2016

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Changes over time for: Cross Heading: Application for conversion to sequestration

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Version Superseded: 31/12/2020

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Point in time view as at 27/05/2020.

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There are outstanding changes not yet made by the legislation.gov.uk editorial team to Bankruptcy (Scotland) Act 2016. Any changes that have already been made by the team appear in the content and are referenced with annotations. Help about Changes to Legislation

Application for conversion to sequestrationS

190Application for conversion to sequestrationS

(1)This section applies where a member State [F1insolvency practitioner] proposes to apply to AiB for the conversion under [F2Article 51 of the EU] insolvency proceedings regulation (conversion of [F3secondary insolvency] proceedings) of a protected trust deed into sequestration.

(2)An affidavit complying with section 191 must be—

(a)prepared and sworn, and

(b)submitted to AiB in support of the application.

(3)The application and affidavit required under subsection (2) are to be served on—

(a)the debtor,

(b)the trustee, and

(c)such other person as may be prescribed.

191Contents of affidavit required under section 190(2)S

(1)An affidavit required under section 190(2) must—

(a)state that main proceedings have been opened in relation to the debtor in a member State other than the United Kingdom,

[F4(b)state that the member State insolvency practitioner believes that the conversion of the protected trust deed into sequestration would be most appropriate as regards the interests of the local creditors and coherence between the main and secondary proceedings,]

(c)contain such other information as the member State [F5insolvency practitioner] considers will be of assistance to AiB—

(i)in deciding whether to make an order under section 192, and

(ii)if AiB were to do so, in considering the need for any consequential provision that would be necessary or desirable, and

(d)contain such other matters as may be prescribed.

(2)Any affidavit under this section must be sworn by, or on behalf of, the member State [F6insolvency practitioner] .

192Powers of Accountant in Bankruptcy on application for conversion to sequestrationS

(1)After considering an application for conversion of a protected trust deed into a sequestration, AiB may make such order as AiB thinks fit.

(2)If AiB makes an order for conversion into sequestration, the order may contain all such consequential provisions as AiB thinks necessary or desirable.

(3)The provisions of this Act apply to an order made by AiB under subsection (1) as if the order were a determination by AiB of a debtor application—

(a)under section 22(1), and

(b)in relation to which the member State [F7insolvency practitioner] is a concurring creditor.

(4)On AiB making an order for conversion into sequestration under subsection (1), any expenses properly incurred as expenses of the administration of the trust deed in question become a first charge on the debtor's estate.

Textual Amendments

Commencement Information

I3S. 192 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2

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