Our Business Recovery team are well-versed in helping businesses, individuals, lenders and creditors in times of financial distress.

Guided by our skill and experience, we aim for minimal cost, and maximum recovery – tackling corporate and personal debt problems along the way.

We’re also highly experienced in corporate and personal insolvency procedures including administration, receivership, liquidation, protected trust deeds and sequestration. Supportive and pragmatic at all times, we will help you assess your situation and find the best way for you to move forward.

Based in the heart of Glasgow City Centre, our team can help guide you during difficult times.


Business Advisory

Cash Management
Well organised cash management processes and policies is an integral part to the success of any business. Getting the right processes and policies in place can be the difference between cash availability or having to depend on credit, such as overdrafts and loans, in order to meet ongoing business costs and overheads. At William Duncan we have an extensive pool of Chartered Accountants and business advisers experienced in assisting SMEs with cash flow and cash management problems.

Business Advisory

Business Reviews
One of the services we provide is Independent Business Reviews (IBRs). An IBR is useful to many stakeholders for different reasons. The service we provide is a simple one, we give an honest assessment of the financial strength, stability and viability of your business. The Business Recovery team will assess your business's performance, strengths, weaknesses and provide a report based on our findings. We then aim to put a plan of action in place to turn ailing businesses around. Our Independent Business Review service can be catered to suit your specific needs.

Business Recovery and Insolvency - Corporate

Business Recovery & Insolvency - Individuals

Business Recovery & Insolvency - Individuals

Business Debt Arrangement Scheme

Business DAS is a statutory debt management scheme to help a business repay it’s debts. It is only available to a sole trader, a partnership a limited partnership, a trust or an unincorporated body.

The process involves the business putting forward a proposal, known as a Debt Payment Program (DPP), to its creditors that allows for the business debts to be repaid over a maximum period of 5 years. If approved by creditors, all interest, fees, penalties and other charges will be frozen and creditors will not be able to take any formal recovery action for repayment of their debts, providing the business abides by the terms of the DPP.


Other useful information can be found at:




Trust Deeds

A Trust Deed is a voluntary agreement between an individual, their creditors and a Trustee to help the individual repay their debts.

Once the Trust Deed is registered as Protected, creditors can no longer take any formal action against an individual for recovery of their debts. This requires a proposal to be put forward to creditors for consideration and acceptance. A Trust Deed proposal would usually include an affordable contribution from income, (calculated using the industry standard CFT regulations), for the duration of the Trust Deed. A Trust Deed usually lasts for a period of 4 years.

All matters regarding the administration of the individuals Trust Deed are fully discussed prior to the individual granting the Deed.  A free no obligation consultation can be arranged to assess the specific course of action required to give the individual that much needed relief from the anxieties of debt.



Sequestration is the term used in Scotland for Bankruptcy.

An individual can apply for bankruptcy in Scotland providing they owe at least or £3,000. The individual must not have been bankrupt in the last 5 years and have resided in Scotland for at least 1 year prior to making the application.

The process of bankruptcy is administered by a Trustee. Annette Menzies is a qualified Licenced Insolvency Practitioner and can be nominated to act as Trustee and our Business Recovery team will then administer the sequestration process, which normally lasts for a period of 4 years. All applications must be submitted by a qualified money advisor, also available within our office, online through the Accountant in Bankruptcy. A fee of £200* is payable to The Accountant in Bankruptcy when the application is submitted.

The Coronavirus (Scotland) (No.2) Act 2020

As a result of the ongoing Coronavirus pandemic, a number of temporary amendments have been made to the Bankruptcy legislation. Full details can be found at;


*£150 during the period of The Coronavirus (Scotland) (No.2) Act 2020, noted.

As with a Trust Deed, a free no obligation consultation can be arranged to assess the specific course of action required to give the individual that much needed relief from the anxieties of debt.





Key People

Frequently asked questions

Insolvency arises when individuals or Companies have insufficient assets to cover their debts, or are unable to pay their debts when they fall due. Types of formal Insolvency differ from depending on whether you are a Company or an Individual.
Administration; Company Voluntary Arrangements; Scheme of arrangement; Receiverships (under certain circumstances); Compulsory liquidations; Creditors's Voluntary Liquidations.
In Scotland there are a number of solutions or products available to an individual with debt problems. They include: The Debt Arrangement Scheme; Trust Deeds Sequestration (Scottish term for Bankruptcy); and Debt Management Plans.
An Insolvency Practitioner is the person who is appointed to deal with an insolvency and who will act as the "office-holder".
The two most common paths to dissolve a company is 1. Applying to Companies House to have the company struck off; or 2. By employing a liquidator to liquidate the company and bring the company to an orderly end resulting in the dissolution of the company at Companies House.
Yes, but generally only if there has been wrong-doing on the part of the Director. The benefits of a limited company means that it is an entity in its own right and directors are as much employees as anyone else.
Once you have formed the view that the Company is unable to pay its debts as they fall due, or you are conscious that the Company has financial problems that simple refinancing cannot fix, you should seek expert advise - talk to us!
This depends on the Insolvency - contact one of our team for more information.
The bank will be notified the same day the Insolvency Practitioner is appointed. The event will trigger the bank to look at their security. For specific timescales, refer to the Personal Guarantee you signed.
Yes, subject to certain restrictions. Employees of insolvent companies that have entered a formal insolvency procedure can claim sums they are owed from the Redundancy Payments Office and may submit claims for arrears of salary, holiday pay, pay in lieu of notice and redundancy. Typically, employees will receive payment in 6 to 8 weeks from the date their claims are submitted to the RPO.

Are you or your business in need of insolvency or business recovery advice?

Get your free assessment by contacting us today.

Get in Touch

We'd love to hear from you and see how we can help your business.