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Version Superseded: 08/09/2003
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Bankruptcy (Scotland) Act 1985 (repealed), Section 8 is up to date with all changes known to be in force on or before 29 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)Subject to subsection (2) below, a petition for the sequestration of a debtor’s estate (other than a deceased debtor’s estate) may be presented—
(a)at any time by the debtor or by a trustee acting under a trust deed; but
(b)by a qualified creditor or qualified creditors, only if the apparent insolvency founded on in the petition was constituted within 4 months before the petition is presented.
(2)A petition for the sequestration of the estate of a limited partnership may be presented within such time as may be prescribed.
(3)A petition for the sequestration of the estate of a deceased debtor may be presented—
(a)at any time by an executor or a person entitled to be appointed as executor on the estate or a trustee acting under a trust deed;
(b)by a qualified creditor or qualified creditors of the deceased debtor—
(i)in a case where the apparent insolvency of the debtor was constituted within 4 months before his death, at any time;
(ii)in any other case (whether or not apparent insolvency has been constituted), not earlier than 6 months after the debtor’s death.
(4)If an executor does not petition for sequestration of the deceased debtor’s estate or for the appointment of a judicial factor to administer the estate within a reasonable period after he knew or ought to have known that the estate was absolutely insolvent and likely to remain so, any intromission by him with the estate after the expiry of that period shall be deemed to be an intromission without a title.
(5)The presentation of, or the concurring in, a petition for sequestration shall bar the effect of any enactment or rule of law relating to the limitation of actions in any part of the United Kingdom.
(6)Where before sequestration is awarded it becomes apparent that a petitioning or concurring creditor was ineligible so to petition or concur he shall withdraw, or as the case may be withdraw from, the petition but another creditor may be sisted in his place.
Modifications etc. (not altering text)
C1S. 8(5) applied with modifications by S.I. 1986/1915, Rule 4.76.
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