Sequestrations
Bankruptcy (Scotland) Act 1985: Schedule 5, Pamgraph 5(3)
Notice of Trust Deeds for the Benefit of Creditors by
STEPHEN PHILIP CAPTAIN & SHARON CLARE CAPTAIN
Trust Deeds have been granted by Stephen Philip Captain and Sharon Clare Captain residing at 14 Balfour Crescent, Larbert, FKS 4BA on 16th July 2002 conveying (to the extent specified in Section 5(4A) of the Bankruptcy (Scotland) Act 1985) their estate to me, Eric Robert Hugh Nisbet, Insolvency Practitioner, The Glen Drummond Partnership, 4 Turnbull Way, Knightsridge, Livingston, EH54 8RB, as Trustee for the benefit of their creditors generally.
If a creditor wishes to object to the trust deed for the purposes of preventing it becoming a protected trust deed (see notes below on the objections required for that purpose) notification of such objection must be delivered in writing to the Trustee within 5 weeks of the date of publication of this Notice in The Edinburgh Gazette.
Notes: The trust deed will become a protected trust deed unless within the period of 5 weeks of the date of publication of this Notice in The Edinburgh Gazette a majority in number or not less than one third in value of the creditors notify the Trustee in writing that they object to the trust deed and do not wish to accede to it.
The effect of this is that paragraphs 6 and 7 of Schedule 5 to the Act will apply to the trust deed. Briefly, this has the effect of restricting the rights of non-acceding creditors to do diligence (ie to enforce court decrees for unpaid debts) against the debtor and confers certain protection upon the trust deed from being superseded by the sequestration of the debtor’s estate.
Eric R H Nisbet, Trustee
The Glen Drummond Partnership,
Corporate Recovery & Insolvency Services
4 Turnbull Way, Knightsridge, Livingston
EH54 8RB