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Bankruptcy – Sequestration. Sheriff Court: In sequestration proceedings in which the respondent argued that sequestration should not be granted because the existence of a standard security in the petitioners' favour over subjects owned by her brother-in-law met the terms of s 12(3A) of the Bankruptcy (Scotland) Act 1985 in that she had thereby given or shown that there was 'sufficient security for the payment of' the debt in question, the court rejected that argument, concluded that the sheriff had erred in dismissing petition and refusing sequestration, and awarded sequestration.
Bankruptcy – Sequestration. Sheriff Court: In sequestration proceedings in which the respondent argued that sequestration should not be granted because the existence of a standard security in the petitioners' favour over subjects owned by her brother-in-law met the terms of s 12(3A) of the Bankruptcy (Scotland) Act 1985 in that she had thereby given or shown that there was 'sufficient security for the payment of' the debt in question, the court rejected that argument, concluded that the sheriff had erred in dismissing petition and refusing sequestration, and awarded sequestration.
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Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
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