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Scottish insolvency statistics released

An Official Statistics Publication for Scotland.

The number of personal insolvencies which include both bankruptcies and protected trust deeds (PTDs), are now at their lowest level since the fourth quarter of 2004-05.

Accountant in Bankruptcy (AiB) today released official statistics reporting personal and company insolvencies in Scotland for the third quarter of 2014-15. The figures show that personal insolvencies fell by 12.0 per cent from the previous quarter and 21.3 per cent from the same period of the previous year. A total of 2,633 were recorded during this period.

Bankruptcies continue to decrease with 1,577 awarded this quarter. This is the lowest number of awards since the fourth quarter of 2007-08 as bankruptcies return to levels not seen since before the global economic downturn in 2007-08. It’s also the lowest quarterly total since access to bankruptcy was widened by the introduction of the Low Income Low Asset (LILA) route. This quarter’s numbers are down 4.7 per cent on the previous quarter and 5.7 per cent on the corresponding quarter of the previous year.

The number of PTDs recorded also decreased to 1,056 and this is the lowest number of PTDs recorded since the fourth quarter of 2001-02. This represents a 21.0 per cent decrease on the previous quarter, and is also 36.9 per cent lower than the corresponding quarter of the previous year.

The number of people entering the statutory debt management solution, the Debt Arrangement Scheme (DAS), decreased as 1,097 cases were approved. This is down 5.1 per cent from the previous quarter and down 7.1 per cent on the same period of the previous year. A total of £9.3 million was repaid through this Scheme in the third quarter of 2014-15.

The overall demand for statutory debt solutions in Scotland continues to decline. The combined number of bankruptcies awarded, PTDs registered and DAS applications approved totalled 3,730 this quarter which is 11.2 per cent lower than the previous quarter and 17.6 per cent lower than the corresponding quarter of the previous year.

The number of Scottish registered companies becoming insolvent or entering receivership decreased by 7.7 per cent from the last quarter. This quarter’s total was also 15.7 per cent lower than the same quarter of the previous year.

The figures released today were produced by independent statistical staff free from any political interference, in accordance with professional standards set out in the Code of Practice for Official Statistics.

Notes To Editors

  • A full statement of Scottish insolvency statistics for the third quarter of 2014-15 is available –
  • Official statistics are produced by professionally independent statistical staff – more information on the standards of official statistics in Scotland can be accessed at:
  • Accountant in Bankruptcy supervises all personal insolvencies in Scotland and administers those bankruptcies where appointed. Insolvent individuals in Scotland are subject to bankruptcy (sequestration) or enter protected trust deeds (PTDs) under the Bankruptcy (Scotland) Act 1985. The 1985 Act was amended by the Bankruptcy (Scotland) Act 1993 and on 1 April 2008, part 1 of the Bankruptcy and Diligence etc. (Scotland) Act 2007 came into force making significant changes to some aspects of bankruptcy in Scotland. Changes included the introduction of LILA, a route into bankruptcy for people with low income and low assets. The changes also took a number of processes out of the Scottish Court system, reducing costs and freeing up court time.
  • Protected trust deeds (PTDs) are voluntary arrangements, where the debtor passes their estate to an insolvency practitioner who arranges to repay part of the debt to creditors on the debtor’s behalf. This is similar to Individual Voluntary Agreements (IVAs) in England and Wales, although there are important differences in the way they are set up and administered.
  • The Debt Arrangement Scheme (DAS) is administered by Accountant in Bankruptcy. Debt payment programmes approved under DAS allow individuals to repay their debts in full over an extended period of time whilst providing protection from enforcement by their creditors and safeguarding their home as long as mortgage payments are maintained. Further information on DAS, including a register of debt payment programmes, is available at
  • Details of bankruptcies, PTDs, liquidations and receiverships are found on the register of insolvencies, which is maintained by Accountant in Bankruptcy and can be found at
  • Accountant in Bankruptcy is also responsible for receiving, extracting and recording information from certain forms relating to company liquidations and receiverships. The legislation appropriate to liquidations and receiverships is contained in the Insolvency Act 1986 and the Insolvency (Scotland) Rules 1986.
  • Further information regarding insolvency in Scotland, including legislation, can be found on the Accountant in Bankruptcy’s website at

Gavin Cameron , Communications Manager, Accountant in Bankruptcy
Telephone: 0300 200 2636 / 07976 183010


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