Insolvency Practitioners

We can help achieve quick and efficient realisations from insolvent companies, assisting in making administrator appointments (in both the Sheriff Court and Court of Session), advising administrators and effecting a sale of the assets.

Thorntons’ Restructuring and Insolvency team is hugely experienced in handling Scottish administration cases, working across many sectors including manufacturing, retail, care homes, deposit-taking institutions, financial institutions and credit unions, healthcare, property, investment companies, land and rural, and construction.

As a full-service firm, we have multi-disciplinary teams delivering proactive project management. In addition, our secure platform and client portal mean you have 24/7 access to your case information.

New insolvency rules came into effect in Scotland in 2019 in relation to liquidation. We can advise on the application of the rules on the Scottish element of any liquidation and manage the whole process for you. With our specialist litigators, we can take any court action needed and handle any contentious issues.  

With our client portal and secure platform, information-sharing is quick and safe, with 24-hour information access.

While receiverships are no longer common, there are occasions where they are appropriate or when dealing with an older security. In Scotland, an administrative receiver may be appointed in certain prescribed circumstances or where the appointing floating charge was granted before 15 September 2003.

Thorntons’ team is highly experienced in dealing with receiverships and can handle the whole process in Scotland for you quickly and effectively.

Bankruptcy is sometimes referred to as sequestration in Scotland. The Scottish bankruptcy landscape is changing, with options such as the Debt Arrangement Scheme (DAS), the Scottish Government-backed debt management scheme to consider. 

If you are dealing with a bankrupt business in Scotland, we can help with any aspect of the process for you, including trustee appointments, asset realisation and trust deeds.

Dealing with realisations at a distance can be time-consuming and not cost-effective. Through Thorntons’ extensive office network, we are on hand across Scotland to find and sell the relevant assets for you, offering a bespoke service.

We can handle the asset search, including dealing with company debt books, pursuing director loans and people with knowledge of company assets under s236 Companies Act. We are also very experienced in asset sales with established relationships with local surveyors and sale agents for quick resolutions, and upfront discussions about fee arrangements.

Whether you are dealing with an insolvent business with assets across borders, or are an English insolvency practitioner or English law firm appointed to a Scottish insolvency matter, we can help.

With dual-qualified solicitors as well as Scottish insolvency specialists and litigators, we can handle the Scottish element of any insolvency matter for you or deal with any cross-border issues. We also have long-standing relationships with English solicitors who we can instruct as needed, working closely with them to resolve the situation.

Our team includes litigators with in-depth experience of insolvency cases, so they can take out court action through the Sheriff Court or Court of Session as needed for your case. Given the level of expertise in the team, we may be able to take on cases on a speculative basis and will always discuss fee arrangements upfront.