When individuals are made bankrupt in Scotland, the formal term is 'sequestration', a trustee will be appointed to deal with the sequestration. That trustee will be responsible, amongst other things, for contacting creditors, assessing their claims, ingathering the assets of the debtor and converting them into cash in order to settle the costs of the sequestration and pay dividends to creditors.

The Bankruptcy (Scotland) Act 2016 came into force yesterday, 30 November 2016, together with other consequential amendments and changes to the Court Rules which relate to bankruptcy in Scotland.