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Former First Minister Alex Salmond passed away leaving behind debts totaling more than £340,000, while his assets were valued at just over £2,000, according to the accountants responsible for handling his estate. The news of his financial situation emerged as Kenny Craig, an accountant from insolvency specialist Begbies Traynor, was appointed as the trustee overseeing the bankruptcy process for Salmond’s estate. This appointment came after an application made by Salmond’s widow, Moira.
It was revealed recently that Salmond’s estate had to file for the equivalent of bankruptcy due to the expenses incurred from legal actions taken against the Scottish government during his final years. Part of the bankruptcy process will involve assessing the value of the legal action Salmond was pursuing against the government over the mishandling of a misconduct investigation involving him. Previously, Salmond had successfully sued the Scottish government, receiving £512,000 in damages after it was found that the handling of harassment complaints against him by civil servants was biased. Additionally, he was acquitted of several sexual misconduct charges during a criminal trial at the High Court in Edinburgh.
Begbies Traynor, a prominent corporate rescue and recovery practice in the UK, confirmed that the winding-up of Salmond’s estate would involve evaluating all assets, including any legal claims brought against the Scottish government. At the time of his passing in October 2024, Salmond had initiated further legal proceedings seeking damages against the government he had previously led. Thomas McKay, managing partner for Begbies Traynor in Scotland, acknowledged the complexity of the situation, particularly with ongoing legal proceedings involving a high-profile individual against the Scottish government. Kenny Craig, along with the personal insolvency team at Begbies Traynor Group, was committed to handling the sequestration process with respect and sensitivity. Salmond tragically passed away from a heart attack while attending an event in North Macedonia.
In conclusion, the financial aspects of Alex Salmond’s estate after his passing revealed a significant debt burden compared to his limited assets. The appointment of Kenny Craig as the trustee in charge of the bankruptcy process shed light on the intricate legal proceedings involving Salmond and his estate against the Scottish government. The bankruptcy process would include a thorough evaluation of all assets, including any legal claims pursued against the government. Despite the complexities involved, the team at Begbies Traynor remained dedicated to managing the sequestration process with tact and professionalism. Salmond’s unexpected death during an event in North Macedonia marked the unfortunate conclusion to his tumultuous legal battles
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