Question:

ive been made bankrupt in scotland where can i find this info

by Guest1066  |  12 years, 7 month(s) ago

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ive been made bankrupt in scotland where can i find this info

 Tags: bankrupt, Info, Ive, Scotland

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  1. amomipais82
    Hi There,
    In the context of the 1986 Practice Rules on conflict of interest, there is certain comfort in being able to designate someone as an ‘established client’. Although there are still many clients who always use the same solicitor, or at least the same firm of solicitors, for all of their legal work, there are many others, frequently corporate clients, who use a variety of solicitors, depending on the type of legal advice required. There is also an increasing number who appear to take their business ‘round the corner’, if it is thought that it will result in a lower fee.

    Given these developments, few solicitors can identify an established client with any confidence and, conversely, will not be surprised to be consulted by a new client who admits to having used another solicitor in the past – for example, in the purchase of subjects which are now being sold. This juridical form of ‘musical chairs’ can bring its disadvantages as well no doubt as its advantages. One advantage of having an established client is that the solicitor probably knows a great deal about his background and, more importantly, his financial standing. It is not necessarily so with the others, and the true nature of the ‘non-established’ client may impinge upon the solicitor’s consciousness only when a somewhat thicker interim report thuds on to the desk, revealing the client’s passion for collecting inhibitions. This may indicate a client who is vergens ad inopiam, or one who has reached it.

    Where the client has actually reached inopiam in the form of sequestration, some assistance is available. If the solicitor has doubts about the client’s financial stability or creditworthiness and has not made inquiries of the client, or is not satisfied with the response, there’s the RUB, more properly called the Register of Undischarged Bankrupts. An award of sequestration is notified to the Accountant in Bankruptcy who maintains a register of those who have been made bankrupt and who remain undischarged. It is perhaps not consulted as often as it might be. At one time, the entries appeared at the rate of about 300 per annum. With the increase in personal insolvencies, the rate is currently about 300 per month.

    The register is open for personal inspection, but a postal search can be obtained for a fee, which at present is £6.50 per half-hour. Extracts cost £3.50 or, if a certified extract is required, £6.50.

    A search in the register may save time, expense and angst, particularly on the part of the solicitor who has been acting for an undischarged bankrupt and may end up whistling (among other things) for the fee. Ay, there’s the RUB!

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