Nicola Ross reviews the risks in Scotland’s insolvency laws
Spiralling inflation, and a long-lasting recession forecast by the end of this year, mean it is likely that the number of UK corporate failures will significantly increase. While insolvency regimes north and south of the border have much in common, there are key differences – and failure to deal with them can be disastrous.
Landlord's hypothec
Scottish law gives landlords a unique right – the ‘hypothec’ – a common law security right giving landlords a fixed security over tenants’ moveable property located on the leased property, provided it is owned by the tenant and not subject to a hire purchase agreement or a retention of title clause. The security covers rent arrear...
