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Act of Sederunt (Judicial Factors Rules) 1992
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Procedure where there are creditors
29.—(1) Where claims are lodged, the factor shall—
(a)where funds remain available for division after payment of the debts specified in rule 28, prepare a state of funds and scheme of division amongst the creditors; or
(b)where no such funds remain after payment of those specified debts, prepare a state of funds only.
(2) The factor shall lodge with the Accountant the state of funds and scheme of division, or state of funds, as the case may be, together with all writings and documents relevant thereto, and shall provide the Accountant with such explanations as he shall require.
(3) The Accountant shall prepare a written report on the state of funds and scheme of division, or state of funds, as the case may be, containing such observations thereon as he considers appropriate for consideration by the Sheriff.
(4) The Accountant shall issue the report under paragraph (3) of this rule to the factor.
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