pre-pack

New law, insolvency regulation and the rescue culture

Chris Laughton
January 31, 2012 10:53

The UK insolvency regime began preparing for the 21st century with the Cork Report in 1982. That led directly to the Insolvency Act 1986, introducing the rescue mechanisms of administration and voluntary arrangements. Major refinements followed with the Enterprise Act 2002, enhancing the...

Pre-packs endorsed by the Government

Chris Laughton
January 26, 2012 21:57

After examining the use of pre-packs as an insolvency tool, the government has abandoned the idea of legislating to give notice to creditors in all pre-packs and concluded that: "Pre-pack sales can offer a flexible and speedy means of business rescue and when used appropriately can be the...

Pre-pack administrations and the Insolvency (Amendment) (No.2) Rules 2011

Chris Laughton
August 02, 2011 18:08

Insolvency Lawyers' Association's Response to the draft Insolvency (Amendment) (No.2) Rules 2011 I thoroughly endorse the Insolvency Lawyers' Association's response to the Government's proposed amendments to the law on pre-pack insolvencies, which is accessible at...

UK: greater transparency for pre-pack sales in administration

Robert Goddard
March 31, 2011 23:01

In a written ministerial statement published yesterday - available here and here (pdf) - the Parliamentary Under-Secretary of State for the Department for Business, Innovation and Skills, Mr Edward Davey, announced proposals to increase transparency with regard to so-called 'pre-pack' sales...

Landlords as creditors: tenant insolvency

Chris Laughton
April 01, 2010 08:51

Some landlords struggle with their position in administrations (especially pre-packs) and CVAs, as illustrated by the naturally landlord-centric perspective of insolvency given by the British Property Federation. Landlords are so used to their powers of distraint and forfeiture maintaining their...