Bankruptcy (Scotland) Act 1985: Section 5, Paragraph 5(3)

Notice by Trustee Under a Trust Deed for the Benefit of Creditors

Trust Deed for Creditors by

Stephen Gay Kelly & Yvonne Kelly

Trust Deeds have been granted by Stephen Gay Kelly and Yvonne Kelly, residing at Flat 2/1, 3 Hutton Drive, Glasgow, G51 4RP on 23rd July 2002 conveying (to the extent specified in Section 5(4A) of the Bankruptcy (Scotland) Act 1985) their estate to me Eileen Blackburn, Baker Tilly, Breckenridge House, 274 Sauchiehall Street, Glasgow, G2 3EH as Trustee for the benefit of their creditors generally.

If a creditor wishes to object to the trust deeds for the purposes of preventing them becoming protected trust deeds (see notes below on the objections required for that purpose) notification of such objection must be delivered in writing to the Trustee within 5 weeks of the date of publication of this Notice in The Edinburgh Gazette.

Notes: The trust deeds will become protected trust deeds unless within the period of 5 weeks of the date of publication of this Notice in The Edinburgh Gazette a majority in number or not less than one third in value of the creditors notify the Trustee in writing that they object to the trust deeds and do not wish to accede to them.

The effect of this is that paragraphs 6 and 7 of Schedule 5 to the Act will apply to the trust deeds. Briefly, this has the effect of restricting the rights of non-acceding creditors to do diligence (ie to enforce court decrees for unpaid debts) against the debtors and confers certain protection upon the trust deeds from being superseded by the sequestration of the debtors’ estates.

Eileen Blackburn, Trustee

19th August 2002