Scottish Insolvency or a fraudsters' charter

Wright, Ian
February 2009
Credit Control;2009, Vol. 30 Issue 3, p10
Trade Publication
The article offers insights on the corporate wind-up practice in Scotland which does not involve Official Receiver (OR) and therefore, results to cases of fraud. The author says that several companies have wind down informally due to the companies' lack of fund. He tells that the wind-up practice in the country enables several corporate directors to conceal their fraudulent activities by ensuring that the company does not have liquidation fund. He mentions the need of Scotland to have its OR.


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