Complete Clarity Solicitors


Scottish Parliament passes debt reform Bill

Changes to the rights of Scottish creditors and debtors are on the way, following the recent passing of the Bankruptcy and Debt Advice (Scotland) Bill by the Scottish Parliament. According to the Scottish Government, the Bill is designed to balance the rights of those in debt with the needs of creditors and businesses. Its provisions […]

Call for culture of prompt payment

All companies should have a culture of prompt payment, says the CBI in its recent submission to the UK Government’s consultation on building a responsible payment culture. The national late payment debt stands at over £30 billion, with the average business owed £31,000, says the CBI. With the economic recovery gaining traction and order books […]

Fall in Scottish insolvencies

There was a drop in the number of personal and corporate insolvencies in Scotland over the third quarter of 2013-14, according to new figures from Scotland’s Accountant in Bankruptcy (AiB). The news follows the recent AiB announcement that there has also been a slight fall in the use of diligence across the country. Insolvency figures […]

Quango bankruptcy role questioned

A number of concerns have been raised over the Bankruptcy and Debt Advice (Scotland) Bill, which is currently before the Scottish Parliament. The Bill proposes to substantially increase the powers of the Accountant in Bankruptcy (AiB) by transferring to it a large number of functions presently carried out by the Scottish courts. It also proposes […]

Drop in insolvencies down to zombie companies?

The number of companies that are becoming insolvent has fallen over the past three months, according to two recent reports. This is good news in itself, but may disguise the true picture – that many firms are hanging on by the skin of their teeth, and the good-will of their creditors. The first report, from […]