Sequestration and the Spes Successionis

Practical and theoretical problems arise from the vesting in a permanent trustee in sequestration of legal rights, rights under a will and rights under an established trust. This article considers the meaning of s 31(5) of the Bankruptcy (Scotland) Act 1985, particularly in the context of what happens after a debtor has been discharged. The various arguments are analysed in detail, with a consideration of the history and policy of the law. Although the authors differ on what the current law is, they both conclude that reform is necessary.