The economic downturn has had a dramatic impact on financial settlements on divorce and has even affected those once considered financially stable.
The law in Scotland relating to financial settlements on divorce can be found in the Family Law (Scotland) Act 1985. But when looking at the effect of bankruptcy (or sequestration) on separating spouses, it is necessary to also consider the terms of the Bankruptcy (Scotland) Act 1985.
When advising clients of the effect of their spouse's bankruptcy following separation, it is important to