Scottish Insolvency Statistics: October to December 2017 (2017-18 Quarter 3)

Accountant in Bankruptcy (AiB) today released official statistics reporting personal and company insolvencies in Scotland for the third quarter (October to December) of 2017-18.

Scottish Insolvency Statistics for October to December 2017 (2017-18 Q3)

There were 2,691 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in Scotland in 2017-18 Q3, similar to the 2,636 personal insolvencies in the previous year (2016-17 Q3)

There were 1,089 bankruptcies awarded during this quarter, a 4.2% decrease on the same quarter in 2016-17. A decrease in Full Administration bankruptcies was the main contributor to this decrease; Minimal Asset Process (MAP) bankruptcies and creditor petitions both increased. PTDs increased by 6.9% to 1,602 over the same period.

There were 573 debt payment programmes (DPPs) approved under the Debt Arrangement Scheme (DAS) compared with 528 in the same quarter of 2016-17.

A total of £9.5 million was repaid through DAS during this quarter, compared with £9.6 million in 2016-17 Q3.

The number of Scottish registered companies becoming insolvent or entering receivership decreased in the third quarter of 2017-18, with 202 companies becoming insolvent compared with 210 in 2016-17 Q3. The number of members’ voluntary liquidations (solvent liquidations) decreased from 152 to 129 over the same period.

The figures released today were produced in accordance with the professional standards set out in the Code of Practice for Official Statistics.