Bankruptcy

– in the Scottish Parliament at on 11 January 2018.

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Photo of Christine Grahame Christine Grahame Scottish National Party

Oh! Thank you, Presiding Officer. I had given up.

The First Minister will be aware of the recent BBC Scotland documentary that exposed deficiencies in the efficacy of bankruptcy proceedings. It focused on bankruptcy cheats such as Malcolm Scott, the bankrupt behind Loch Leven (2) Ltd, which has planning applications in for nine properties in Galashiels in my constituency.

Given that Malcolm Scott left debts of £42 million, cocking a snook at all of us and in particular his creditors and the trustee, will the First Minister review the bankruptcy process, including an increase in the inspection and monitoring of declaration of assets pre-bankruptcy and, post-bankruptcy, the operation of bankruptcy restriction orders?

Photo of Nicola Sturgeon Nicola Sturgeon Scottish National Party

I thank Christine Grahame for raising this issue.

Like many people, I was concerned by some of the revelations in the recent BBC documentary. I can give an assurance that, in light of that, the Government will look at aspects of bankruptcy legislation and regulation to see whether there are changes that we require to make.

Christine Grahame has asked some very specific questions about particular aspects of the bankruptcy regime and I will make sure that the relevant minister responds to her in detail in due course, once we have had the opportunity to review those aspects.