Scottish Insolvency Statistics 2015-16: Quarter 4 Release

This release provides Scottish insolvency statistics compiled by Accountant in Bankruptcy (AiB) for the fourth quarter of 2015-16. Statistics relating to the Debt Arrangement Scheme (DAS) are also reported.

The release includes both quarterly and annual statistics. Annual totals will remain provisional until a final validation of the year-end figures; any changes are likely to be negligible. The figures are collated to 31 March 2016.

AiB is seeking views from you on how this report could be improved. We would be grateful if you could review this publication and provide us with feedback.   A brief questionnaire can be found on the AiB website – Questionnaire.

Additionally, you could directly contact us with comments or enquiries about this publication. Contact details provided below.

Francisco Forner-Borras:   Francisco.Forner@gov.scot

Christopher McCrum:        Christopher.McCrum@gov.scot

2.   Key Points

  • The total number of personal insolvencies recorded in 2015-16 is 8,413. This annual total is the lowest in fourteen years.

  • Total personal insolvencies for this quarter, which include both bankruptcies and protected trust deeds (PTDs) totalled 2,232, this is consistent with the prevailing trend following the introduction of the Bankruptcy and Debt Advice (Scotland) Act 2014 (BADA(S)).

  • There were 997 bankruptcies awarded this quarter, 8 bankruptcies more than the previous quarter.

  • After the increase in previous quarters, the number of PTDs saw a decrease this quarter. The number of PTDs decreased by 8.9 per cent from the previous quarter to 1,235. PTDs have outnumbered the bankruptcies awarded in each of the quarters this financial year.

  • The number of new debt payment programmes (DPPs) approved under DAS increased for the second successive quarter to 538.

  • A total of £9.4 million was repaid through DAS this quarter. This is 0.2 per cent higher than previous quarter.

  • The combined number of bankruptcies awarded, PTDs recorded and DAS DPPs approved has remained stable for the last three quarters. This quarter's figures are 13.6 per cent lower than the same quarter last year.

  • The number of Scottish registered companies becoming insolvent or entering receivership decreased by 9.8 per cent in the fourth quarter of 2015-16, with 229 companies becoming insolvent. The number of members’ voluntary liquidations (solvent liquidations) increased from 190 to 358.

3.  Key Trends

Chart 1: Statutory debt solutions in Scotland – Longer-term Trend
 

 

Chart 1 depicts a long-term trend in the number of statutory debt solutions, which include personal insolvencies and DAS DPPs, in Scotland from 2006-07.

The number of personal insolvencies in Scotland shows a long-term downward trend.

The introduction of the Low Income Low Asset (LILA) route in the third quarter of 2008-09 widened the access to  bankruptcy.

After a steady rise and then a period of relative stability, the number of DAS DPPs approved has decreased in previous quarters. However, the activity has increased over the last two quarters, albeit at a lower level than the equivalent period in the previous year.
 

Personal Insolvencies – This is the total of bankruptcies awarded and trust deeds protected

Bankruptcies - Bankruptcy is a formal method of dealing with debts if other options have failed or aren’t suitable for your circumstances. Being declared bankrupt means you have to hand over your estate, which includes your home, to your trustee. More+

PTDs - Voluntary arrangements, where the debtor passes his estate to an insolvency practitioner who arranges to repay part of the debt to creditors on the debtor’s behalf. More+

DAS DPPs – Debt Arrangement Scheme (DAS) is a Scottish Government debt management tool which allows someone to repay their debts through a debt payment programme (DPP). More+

LILA - LILA is the route into bankruptcy for people who have Low Income and Low Assets. More+

This section covers the statutory debt relief solutions available in Scotland which citizens can turn to when they can no longer meet their financial obligations.  Personal insolvencies in Scotland consist of both bankruptcy and PTDs.

4.1 Personal Insolvencies Trends             

The following chart shows the quarterly volume of bankruptcies awarded and PTDs recorded since 2005-06.

Chart 2: Personal Insolvencies in Scotland

The number of bankruptcies awarded has been declining since the third quarter of 2008-09, with the exception of the first quarter of 2012-13.  The spike in bankruptcy awards occurred during this period as a result of an increase in the volume of applications prior to changes in the bankruptcy fee structure which were subsequently introduced on 1 June 2012.

Following a period of relative stability, the number of bankruptcies fell in the first quarter of 2015/16. Subsequent quarterly increases have been followed by a further increase of 0.8 per cent in this quarter; however, the number of bankruptcies awarded is aligned with the decreasing long-term trend.

The trend of PTDs awarded each quarter has been more flat between 2008-09 and 2012-13. Since the second quarter of 2013-14, there has been a decrease in activity. After an increase in the previous three quarters’ figures, the number of PTDs has decreased by 8.9  per cent as compared with the previous quarter; however, PTD activity levels are 48.1 per cent higher than the corresponding quarter of the previous year.

4.2 Summary of bankruptcies awarded and number of PTDs registered

There were a total of 2,232 personal insolvencies in Scotland in the fourth quarter of 2015-16 which represents a 4.8 per cent decrease on the previous quarter.

The current quarter’s figures are 13.3 per cent lower than the same quarter of the previous year.           

Table 1: Personal Insolvencies by Quarter

r - Figures for 2014-15 have been revised following validation at the end of the previous financial year.

p - Figures for 2015-16 will remain provisional until validation following the end of the financial year.

*As the number of Trust Deed Petitions each quarter is generally small, any changes in the number of cases between quarters can result in large percentage changes. Therefore, this figure will not be reported in the table.          

4.3 Bankruptcies

Applications received

AiB received 754 debtor applications for bankruptcy in the fourth quarter of 2015-16. This is 59 applications more than the previous quarter and 48.5 per cent lower than the corresponding quarter of the previous year.

Not all the applications for bankruptcy result in an award being made; at the end of the fourth quarter, 42 applications were still being processed, 36 applications were rejected as the criteria for bankruptcy had not been demonstrated and 14 applications were returned due to application errors.

Applications awarded

This quarter 997 bankruptcies were awarded, 8 applications more than on the previous quarter. This is the third consecutive increase in the number of bankruptcies awarded following the introduction of the new legislation. However compared with the same quarter of the previous year, bankruptcies have fallen 42.7 per cent which is aligned with the decreasing long-term trend of personal insolvencies.

There are different routes to submit an application for bankruptcy. A debtor may apply to AiB for their own bankruptcy or a creditor can present a petition at a sheriff court to sequestrate - meaning, make someone bankrupt. A deceased individual’s estate can be made bankrupt by an executor. The 997 individual awards of bankruptcy this quarter can be broken down as follows:

  • 722 awards were made as a result of debtor applications to AiB, 6 applications more than on the previous quarter but 45.8 per cent lower than the same quarter last year. Of these, 401 were awarded bankruptcy through the Minimal Asset Process (MAP) route. This accounts for 55.5 per cent of the total debtor applications.

  • 274 awards resulted from petitions to the courts by creditors. This is just 1 application more than on the previous quarter and 32.8 per cent lower than the same quarter last year.

  • 1 award was made as a result of petitions to the court by trustees in a trust deed. There were none in the previous quarter and 1 award in the same quarter last year.

    MAP - Minimal Asset Procedure is a route into bankruptcy for people with few assets. MAP replaces the LILA route in to bankruptcy. More +

Case administration

In Scotland, a trustee is appointed to administer each bankruptcy. The Accountant in Bankruptcy (The Accountant) will be the trustee unless an insolvency practitioner is nominated to act. In a MAP case, The Accountant must act as trustee. In the fourth quarter of 2015-16, The Accountant was appointed trustee in 832 cases awarded, representing 83.4 per cent of bankruptcies for the quarter.

4.4 Protected Trust Deed – PTDs

The number of PTDs decreased with a total of 1,235 recorded in the fourth quarter of 2015-16. This is a decrease of 8.9 per cent from the previous quarter.

This quarter’s figures are 48.1 per cent higher than the total recorded in the corresponding quarter of the previous year. This is the fourth consecutive quarter that the number of PTDs recorded is larger than number of bankruptcies awarded. Further information can be found in Table 1.

4.5 Annual Totals

The total number of personal insolvencies recorded in 2015-16 is 8,413. This is 24.7 per cent lower than the previous year, as the downward trend in the number of personal insolvencies continues. This annual total is the lowest since 2001-02 which means the number of personal insolvencies in Scotland is at its lowest level in fourteen years.

The provisional number of bankruptcies awarded in 2015-16, at 3,708, is a decrease of 44.9 per cent from the previous year. This is the lowest annual total since 2004-05 (eleven years) as the number of bankruptcies awarded has moved back to pre-recession and pre-LILA[1] levels.

PTDs have increased this financial year. A total of 4,705 were recorded in 2015-16, a 6.0 per cent increase on the previous financial year.

Table 2 below shows the number of personal insolvencies recorded each year from 2005-06 to 2015-16. This shows that personal insolvencies have been declining for the last four years and at an increasing rate.

Table 2: Personal Insolvencies by Financial Year

r - Figures for 2014-15 have been revised following validation at the end of the previous financial year.

p - Figures for 2015-16 will remain provisional until validation following the end of the financial year.

5.1 Debt Arrangement Scheme - DAS

The Debt Arrangement Scheme (DAS) is a statutory debt management solution run by the Scottish Government. Under DAS, a debtor commits to a Debt Payment Programme (DPP) which allows them to repay their debts based on their disposable income while they are protected from creditors taking any action against them to recover their debt. For more information on DAS please see the DAS website

5.1 Summary

There were over 13,600 live cases at the end of this quarter, a decrease on the previous quarter. This decrease is a result of volumes of new approved DAS being lower than the combined number of completions and revocations.

This quarter, the total amount paid through DAS increased. A total of £9.4 million was paid back, an increase of 0.2 per cent on the previous quarter.

5.2 Applications Approved                                

During the fourth quarter of 2015-16 there were 538 DPPs approved under DAS. This is a 4.1 per cent increase on the previous quarter but 15.0 per cent lower than the same quarter of the previous year.

Chart 3: DAS DPPs approved

Chart 3 shows the quarterly total number of approved DPPs under DAS since the first quarter of 2010-11 and illustrates the increase in volume of DPPs approved, particularly from 2011-12 onwards. This upturn was a result of changes to the legislation[1] and improvements to its IT system.

After a period of decline, this quarter saw 538 applications for a DPP approved.  This is the second consecutive increase and it could represent a return to more stable volumes, albeit at a lower level than seen previously. 

There was a total of 2,041 DPPs approved under DAS in 2015-16. This is half the number of DAS approved on the previous year.

5.3 DAS DPPs Completed

A total of 328 DAS DPPs were completed in the fourth quarter of 2015-16 which is 5.1 per cent higher than the total completed in the previous quarter. This is a 24.2 per cent increase compared to the same quarter of the previous year.

In 2015-16, a total of 1,297 DAS DPPs were completed which is 44.8 per cent higher than the total completed in the previous year.  This is also the highest number of completed DPPs in-year, since DAS was introduced.                                                  

Since the average length of a DAS DPP is around 7 years, we can expect a steady rate of increase until 2018, followed by a lower but steady volume of completions in line with current applications approved.

5.4 Variations

If a debtor's circumstances change and they can no longer afford the agreed payments, or if they want to increase the level of payment, they can apply for a variation to their DAS DPP.

In the fourth quarter of 2015-16, 493 applications to vary a DPP under DAS were approved while 25 were rejected. The number of approved applications is down 17.0 per cent compared to the previous quarter and 60.2 per cent lower than the number approved in the same quarter of the previous year. The number of approved variations is equal to 3.6 per cent of live cases.

5.5 Revocations[2]

 


A DPP is automatically revoked if the debtor is made bankrupt or enters a trust deed which becomes protected. There are also a number of grounds where the debtor, a money adviser acting on behalf of the debtor or a creditor in the DPP can apply to revoke a DPP. If the DPP is revoked, the debtor will be liable for all interest, fees, penalties and other charges that would have been payable had the DPP not been approved. 

A total of 291 applications to revoke a DAS DPP were approved in the fourth quarter of 2015-16 and 137 were rejected. This is an approval rate of 68.0 per cent. The number of approved applications is 29.5 per cent lower than the previous quarter and 26.0 per cent lower than the number approved in the corresponding quarter of 2014-15. The number of approved revocations is equal to 2.1 per cent of live cases

5.6 Amount Repaid

A total of £9.4 million was repaid through DAS in the fourth quarter of 2015-16. This is a 0.2 per cent increase on the amount repaid during the previous quarter; this figure represents an increase of 0.1 per cent on the corresponding quarter of the previous year

Table 3: Amount Repaid Through DAS by Quarter

Note: The published amounts have been rounded however the percentage changes have been calculated using the unrounded figures.

This means a total of £38 million has been repaid through DAS in 2015-16 which is a 3.2 per cent increase on the total amount repaid in the previous year. Note these amounts relate to DAS only and do not include money repaid to creditors through bankruptcies or PTDs.

Statutory debt solutions in Scotland consist of bankruptcies and PTDs, which are debt relief solutions, and DAS which is a debt management solution. Non-statutory debt solutions such as Debt Management Plans or private agreements between creditors and debtors also exist, but they are not administrated by AiB.

Chart 4 shows the proportion of statutory debt solutions recorded for each quarter. This illustrates the change in distribution of bankruptcies, PTDs and DAS DPPs since 2009-10. The overall demand for statutory debt solutions in Scotland continues to decline.

Chart 4: Total Bankruptcies, PTDS and DAS DPPs – Distribution Breakdown

The proportion of bankruptcies has been generally declining since 2009-10. The proportion of individuals entering DAS, after a steady period of increase, has declined in the last financial year, and has recently stabilised. Following a long period of decline, the proportion of PTDs has increased in the last year. 

When the above figures are considered for the fourth quarter of 2015-16, bankruptcies accounted for 36.0 per cent of the total statutory debt solutions.  This compares with 34.6 per cent in the previous quarter. The equivalent proportion for PTDs decreased during the fourth quarter of 2015-16 from 47.4 per cent to 44.6 per cent. DAS, as a proportion of all statutory debt solutions, increased from 18.1 per cent to 19.4 per cent.

7.  Company Liquidations and Receiverships                                               

This section covers receiverships and liquidations of those companies which the Court of Session has jurisdiction to wind up and which are recorded[1] in the Register of Insolvencies (RoI).  

Chart 5: Corporate insolvencies       

The corporate insolvency statistical time series, which includes receiverships appointments, compulsory liquidations and creditors’ voluntary liquidations, shows a general upward trend between the start of 2009-10 and the first quarter of 2012-13 followed by a significant decrease for the remainder of that year. This was followed by an upward trend at the beginning of 2013-14. Since then, the quarterly total has declined until last quarter when there was a considerable increase.

This chart also shows the total number of Members’ Voluntary Liquidations (MVLs) recorded each quarter. An MVL is a solvent liquidation designed to collect and distribute the assets of the company. A company is considered legally solvent when it is able to meet its financial obligations. Retirement of company member/s, restructuring of a company, deregistering an inactive company or changes in the profitability of a market are some of the reasons why member/s of a company may decide to adopt a voluntary winding up resolution and appoint a liquidator to realise the assets of the business and distribute the proceeds among the company members.

The MVL time series shows a general upward trend since the middle of 2012-13.  A total of 358 MVLs were recorded in the fourth quarter of 2015-16 which is 88.4 per cent higher than the total recorded in the previous quarter.

Corporate Insolvencies

AiB received 229 notices of Scottish registered companies becoming insolvent or entering receivership in the fourth quarter of 2015-16. This is 9.8 per cent lower than the number registered last quarter and 16.2 per cent higher than the same quarter of the previous year.  This gives a total in 2015-16 of 860 company liquidations and receiverships, which is 1.3 per cent higher than the total recorded in 2014-15.

Text Box:

 

 

 

 

 

 

The quarterly figure consists of 142 compulsory liquidations, and 86 creditors’ voluntary liquidations. There was 1 receivership recorded this quarter. There were also 358 members’ voluntary liquidations. Further information is shown in table 4 below.

The RoI does not contain information on corporate administrations in Scotland as they are a reserved matter[1]. Corporate Administrations are not included in the corporate insolvency statistics produced by AiB. 

Table 4: Company Liquidations and Receiverships

*As the number of corporate receiverships each quarter is generally small, any changes in the number of cases between quarters can result in large percentage changes. This figure will not be reported in the table.              

8.1 General background

AiB supervises all personal insolvencies in Scotland and administers those bankruptcies where appointed. Insolvent individuals in Scotland are subject to bankruptcy (sequestration) or enter 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 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.

There were a number of changes to bankruptcy, debt relief and money advice in Scotland introduced by the Bankruptcy and Debt Advice (Scotland) Act 2014 (BADA(S) which came into force from 1 April 2015, and amended the Bankruptcy Scotland (Act) 1985. A new route into bankruptcy was introduced through the BADA(S) for people on low income who do not own property and have very little in savings or other assets. This is known as Minimal Asset Process (MAP), and it replaces LILA.

A PTD is a voluntary arrangement, where an agreement is made between a debtor and creditors to repay part, or all of their debt. The debtor conveys his estate to an insolvency practitioner to administer for the benefit of creditors and the arrangement normally includes a contribution from income for a set period.  Provided the debtor complies with the terms of their deed, the creditors can take no further action to pursue the debt or to make the debtor bankrupt. This is similar to Individual Voluntary Agreements in England and Wales; although there are important differences in the way they are set up and administered. 

DAS is administered by AiB.  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. The legislation relating to DAS is contained in the Debt Arrangement and Attachment (Scotland) Act 2002 and subsequent regulations.

AiB 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 on DAS, including a register of debt payment programmes, is available at http://www.dasscotland.gov.uk

Further information regarding insolvency in Scotland, including legislation, can be found on the AiB's website at www.aib.gov.uk

8.2  Statistics background

Official statistics are produced by professionally independent statistical staff. Further information on the standards of official statistics in Scotland can be accessed at http://www.scotland.gov.uk/Topics/Statistics/About

8.21  Data sources

The Statistics for individual insolvencies (Bankruptcies and PTDs) and DAS are derived from administrative data of records processed within AiB and stored on the systems BASYS, ASTRA and DASH respectively. The exception to this is creditor and trustee petition bankruptcies which are sourced from the courts that grant them and subsequently stored on the BASYS system.

Corporate insolvencies are derived from administrative records provided by the courts, administrators and receivers.

Methodology

Figures are produced from tabulation of raw data from relevant administrative systems for the number of Bankruptcies, PTDs, DAS DPPs, and corporate insolvencies.

The numbers of personal insolvencies reported are based on the date the court order or agreement of the insolvency procedure. The implication of this for creditor petitions is that the published figures will be influenced by, for example, the late reporting of court orders which may lead to underestimating the number of creditor petitions awarded. Data reported for the latest quarter contains creditor petition awards registered as at 31 March 2016. Creditor petitions statistics are subsequently adjusted after the final quarterly release of the financial year and the revised figures are reflected in the first quarterly report of the next financial year.

The numbers of debt payment programs (DPP) under DAS are based on the date the DPP was approved; and the numbers of corporate insolvencies are based on the date the insolvency was registered in AiB’s administrative recording system.

Revisions

Revisions made are usually as a result of data being sent to AiB and logged on to the administrative systems after the cut-off date for data being extracted from the systems to produce the statistics. These revisions tend to be small in the context of overall totals; nonetheless these figures will be revised in the first quarterly release of the next financial year and will be marked as revised.

It is therefore practice to treat records that are at risk of being entered late onto the administrative system as provisional until the final revisions have been made in the first quarter of  the next financial year. Where ad hoc revisions are made for any other reason, these revisions will be highlighted in the table and reasons for any revisions will be given in the text. More information on the revision policy can be requested from AIB.

8.2.2  Quality

Relevance

The statistics produced by AiB are the most complete record of the number of personal and corporate insolvencies in Scotland. They include all statutory insolvency procedures available. Statistics on the Debt Arrangement Scheme, the only statutory debt management solution available in Scotland are also included.

Key users of AiB’s insolvency statistics are AiB itself, which has policy responsibility for personal insolvencies in Scotland; the insolvency profession; debt advice agencies; media organisations; academics; creditors and the general public. 

The statistics team welcomes feedback from users of these statistics (current contact details are provided at the end of this report). There is also a survey that will be live from the date of this publication - Questionnaire - and AiB would be grateful if users could complete the survey and give their views on this publication.

Accuracy and Completeness

All formal insolvency procedures entered into by a company, a partnership or an individual are required by law to be reported to the appropriate body, so the statistics should be a complete record of insolvency in Scotland at the time of publication.

The numbers of bankruptcies, PTD and DPPs DAS are based on the date of the order, agreement of the insolvency procedure or the approval date, not on the date it was registered on the administrative recording system.  This does not have any implication for cases processed within AiB; however the published number of creditor petitions will be influenced by, for example, the late reporting of creditor petitions court orders, which may lead to missing data. Creditor petitions reported for the latest quarter contains bankruptcies awarded and registered on AiB administrative system as at 31 March 2016, and it is marked a provisional. Revisions are scheduled for the first quarterly release of the following financial year and the new data will be marked as revised then.

In contrast, the numbers of corporate insolvencies are based on the date the insolvency was registered on AiB corporate insolvency recording system (BASYS). The implication of this is that the corporate insolvency published figures will be influenced by, for example, the late reporting of orders which may lead to a quarter's figures containing cases awarded the previous quarter. This should be noted when making comparisons of trends over time; or comparing with other sources of data.

Checks are in place to identify and remove duplication of cases when extracting data from the administrative systems, to ensure that returns cover all debt management solutions, and to check consistency within tables and between related tables

Coherence

AiB publishes year end totals of the quarterly statistics in its annual report. These numbers may differ slightly to those reported throughout the year but revisions will be made and reasons highlighted alongside them in the text.

When producing statistics by local authority, numbers may differ slightly as postcodes of debtors cannot always be assigned, where this occurs these differences will be highlighted and commented on. Accordingly, the Annual and quarterly statistics reports are the definitive source of statistics for statutory debt solutions in Scotland.

AiB is required to be notified of all company liquidations and receiverships in Scotland, and publishes quarterly official statistics based on its own administrative records. These differ from the Insolvency Statistics, which use data from Companies House as the source. Differences are due to AiB using its own administrative system’s data rather than the start date of the insolvency.

Timeliness and Punctuality

The Scottish Insolvency Statistics are published on the 4th Wednesday of the month following the end of the quarter being reported on; this publication date allows receipt of all the data inputs, and sufficient time for quality assurance the data extracts, tabulating records and completing the compilation of the statistical release in the publication format.

There is a publication schedule for a year ahead available on the ScotStat, and the statistics have always been published on target. Similarly, the dates for the following quarterly publications are available on AiB website

Accessibility and Clarity

The Scottish Insolvency Statistics are available free of charge to the end user on the AiB website. They are released via the website and ScotStat.

Contact details can be found at the end of these background notes for any specific requests on the data.

Comparability

Changes in legislation and policy can affect the extent to which comparisons can be made over time for individual data series. Where such changes are known, they have been highlighted in the commentary and in the general background notes.

AN OFFICIAL Statistics publication FOR SCOTLAND

The figures released today were produced in accordance with professional standards set out in the Code of Practice for Official Statistics; they undergo regular quality assurance reviews to ensure that they meet customer needs.

Correspondence and enquiries

For enquiries about this publication please contact:

Francisco Forner Borras,

Accountant in Bankruptcy,

Telephone: 0300 200 2927 (Kilwinning) 01414 278 7406 (Glasgow)

e-mail: Francisco.Forner@gov.scot

For general enquiries about Scottish Government statistics please contact:

Office of the Chief Statistician, Telephone: 0131 244 0442,

e-mail: statistics.enquiries@scotland.gsi.gov.uk

How to access background or source data

The data collected for this statistical bulletin:

☐ are available in more detail through Scottish Neighbourhood Statistics    

☒ are available on the AiB Statistics webpages at:

http://www.aib.gov.uk/About/annualtargets/quarterlyreports

Details of bankruptcies, PTDs, liquidations and receiverships can be found on the Register of Insolvencies, which is maintained by Accountant in Bankruptcy and can be accessed at https://roi.aib.gov.uk/roi/

The DAS register is an online public register which holds information about those who have a DPP under DAS (https://services.aib.gov.uk/dasregister/)

☐ may be made available on request, subject to consideration of legal and ethical factors.

☐ cannot be made available by Scottish Government for further analysis as Scottish Government is not the data controller.    

Complaints and suggestions

If you are not satisfied with our service or have any comments or suggestions, please write to the Chief Statistician, 3WR, St Andrews House, Edinburgh, EH1 3DG, Telephone: (0131) 244 0302, e-mail statistics.enquiries@scotland.gsi.gov.uk

If you would like to be consulted about statistical collections or receive notification of publications, please register your interest at www.scotland.gov.uk/scotstat

Details of forthcoming publications can be found at www.scotland.gov.uk/statistics

Crown Copyright

You may use or re-use this information (not including logos) free of charge in any format or medium, under the terms of the Open Government Licence.  See: www.nationalarchives.gov.uk/doc/open-government-licence/

 


[1] UK Insolvency Service quarterly reports on corporate administration and further information can be found on https://www.gov.uk/government/collections/insolvency-service-official-statistics

Receivership appointments - Creditor with a floating charge appoints a licensed insolvency practitioner to recover the money it is owed.

Compulsory Liquidation - A winding-up order obtained from the court by a creditor, shareholder or director.

Creditors’ Voluntary Liquidation -Shareholders of a company can themselves pass a resolution that the company be wound up voluntarily.

Members' Voluntary Liquidations -  It  does not involve insolvency – all creditors’ debts are paid in full.

 


[1] AiB reports on the number of corporate insolvencies and member voluntary liquidations logged on the AiB's system. There is a time lag between the dates when a corporate insolvency is awarded or a member voluntary liquidation is registered and when AiB receives notice. Therefore, the figures reported by AiB may not exactly reflect the number of corporate insolvencies awarded or member voluntary liquidations registered in a quarter.


[1] LILA route to bankruptcy introduced at start of 2008-09 which widened access to bankruptcy resulting in a significant increase in the number of bankruptcies awarded.

[1] http://www.legislation.gov.uk/ssi/2011/141/contents/made

[1] There are a number of  grounds where the debtor, a money adviser acting on behalf of the debtor, or a creditor in the DAS DPP can apply to revoke a DAS DPP, including where a debtor has failed to satisfy the conditions of the DPP or if two payments have been missed and a third is due

[2] There are a number of  grounds where the debtor, a money adviser acting on behalf of the debtor, or a creditor in the DAS DPP can apply to revoke a DAS DPP, including where a debtor has failed to satisfy the conditions of the DPP or if two payments have been missed and a third is due