Meeting Reports
ICM West Scotland Branch
Merchant City in the heart of Glasgow is always a great place to enjoy fine food and wine, and to network!  This was no less true at the last West Scotland branch meeting held at 'Corinthian', in the centre of Merchant City.  Craig Mathieson and Stephanie Burton, of MLM Insolvency, after a buffet and wine, and the opportunity to network, gave an informative and thought provoking presentation on 'Trust Deeds and the Bankruptcy & Diligence (Scotland) Act'. 

Craig highlighted that driven primarily by the 'Credit Crunch', Scotland was outstripping the rest of the UK for insolvencies : 19.1% are from Scotland, and in the last year, there wrere 5,693 individual insolvencies, with 231 Scottish based companies declaring insolvency in the first three months of 2009.  He indicated that in the future there could well, because of the impact of the 'Credit Crunch', be fast track trust deeds, a change in regulations (TIX, etc), and a relaxation in payments to referral sources.

Stephanie gave a creditors perception of the BAD Act (often seen as too debtor orientated and not punitive enough), arguing infact that it was 'creditor friendly' in that it focused the debtor to tighter timescales, asset realisation, and because Trust Deeds could be put in place, this was a better option than the traditional sequestration route.

A wide and varied range of questions followed ..... with more wine and networking following!