About us
Accountant in Bankruptcy is an Agency of the Scottish Executive. The Chief Executive of the agency is known as the Accountant in Bankruptcy.
The Accountant's main functions are:
- to supervise bankruptcy in Scotland and to ensure that those involved in the process, mainly trustees and commissioners, properly carry out their responsibilities. We take appropriate action when they fail to do so;
- to maintain a public register of sequestrations (bankruptcies), protected trust deeds and company insolvencies;
- to undertake the duties of commissioners in sequestrations where none may be, or are, elected; and
- to act as interim and permanent trustee in sequestrations where no insolvency practitioner is appointed or elected.
The Accountant is also responsible for administering the Government's policies for personal insolvency and the process of corporate insolvency in Scotland and to monitor their implementation.
The Accountant is also the Debt Arrangement Scheme (DAS) administrator. The DAS administrator's main functions are:
- to approve debt payment programmes (DPPs);
- to approve variations of DPPs;
- to approve money advisers and payment distributors; and
- to maintain the DAS register.
More information can be obtained from the DAS website at www.moneyscotland.gov.uk