Earlier this month we advised that some of the temporary measures introduced due to the coronavirus had been made permanent through the Bankruptcy (Miscellaneous Amendments) (Scotland) Regulations 2021.
We can now confirm that the remaining measures introduced due to the coronavirus have been extended by a further six months. This follows the Scottish Parliament’s decision to extend both the Scottish Coronavirus Acts until 30 September 2021.
This extension applies to the minimum debt level for creditor petition which remains at £10,000, extends the period of any new moratoria to a period of six months, and removes the limitation that only one such moratorium can be applied for in any 12 month period. The ability to hold virtual meetings of creditors as an alternative to physical meetings will also continue. These provisions will now expire on 30 September 2021.
Further information on the extension of the Scottish Coronavirus Acts can be found here.