Case Review: Trust Deed
The case review forms assume that members are familiar with the Trust Deed procedures, gained through practical experience and through knowledge of the relevant statutory provisions. For the detailed requirements relating to Trust Deeds in Scotland members should refer to legislation, to Statements of Insolvency Practice (Scotland) and to other guidance notes, specifically those issued by the Accountant in Bankruptcy.
The case review forms are issued as aide memoires. They are not intended to replace detailed work programmes and they may not be relied upon as exhaustive.
Where a trust deed has not become protected some of the review procedures detailed in these checklists will not be applicable.
The case review forms have been compiled using every best endeavour of ICAS and of those members whose expert opinion was sought. They are intended to apply only in the context of members dealing with Trust Deeds in Scotland. It should be noted that in using them, insolvency practitioners accept that no liability, howsoever caused, for loss or damage of any kind resulting from such use, attaches to ICAS, any of its staff or those individuals who contributed to their formulation and publication in respect of any fault, error, negligence or omission in their content.
The information contained in the case review forms is based on legislation current as at 30 November 2016. Unless otherwise stated, references given are to the Insolvency Act 1986 (“IA”) as amended and the Insolvency (Scotland) Rules 1986 (“the Rules”), the Bankruptcy (Scotland) Act 2016 (“the Act”) and the Protected Trust Deeds (Forms) (Scotland) Regulations 2016 (“the 2016 Form Regs”).