Scottish Court of Session Decisions

This was a report to the Court under sections 159 and 161 of the Bankruptcy Act, in regard to the conduct of an accountant in Glasgow who was trustee on various sequestrated estates. The complaint against him was that, in contravention of the statute, he had retained the funds of the estate in his own hands, instead of lodging them in bank, for more than the statutory period, and that in one case he had failed to consign in bank a dividend due to a contingent creditor. The trustee admitted the irregularities complained of, and expressed his deep regret that they had occurred; but he explained that the practice was common in Glasgow. It was also explained that the trustee had resigned one of the trusteeships, and had arranged with the creditors on the others for the payment of penal interest.