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International Corporate Rescue

Journal Issues

  • Vol 1 (2004)
  • Vol 2 (2005)
  • Vol 3 (2006)
  • Vol 4 (2007)
  • Vol 5 (2008)
  • Vol 6 (2009)
  • Vol 7 (2010)
  • Vol 8 (2011)
  • Vol 9 (2012)
  • Vol 10 (2013)
  • Vol 11 (2014)
  • Vol 12 (2015)
  • Vol 13 (2016)
  • Vol 14 (2017)
  • Vol 15 (2018)
  • Vol 16 (2019)
  • Vol 17 (2020)
  •         Issue 1
  •         Issue 2
  •         Issue 3
  •         Issue 4
  •         Issue 5
  •         Issue 6
  • Vol 18 (2021)

Vol 17 (2020) - Issue 6

Article preview

Government Reforms to Pre-pack Sales to a Connected Party in Administration

Edward Lewis, Associate, Chris Mo, Trainee Solicitor, and Richard Tett, Partner, Freshfields Bruckhaus Deringer LLP, London, UK

Synopsis
Pre-pack sales have always been controversial in some circles. On 8 October 2020, the UK Government published draft regulations on connected party prepack sales in administration. With the cold economic headwinds brought about by COVID-19, the need for business rescue tools that are fair, transparent and value-preserving has become ever more pressing. In this article, we discuss the legislative proposals that have been tabled regarding pre-packs, and our thoughts on how the new regulations will work in practice. In summary, we consider the proposals to be broadly sensible and proportionate, striking a reasonable balance between creditor protection and the need for an efficient and effective corporate rescue tool.

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International Corporate Rescue

"I see a lot of corporate restructuring publications but International Corporate Rescue has struck the right balance of case studies and new technical issues, all wrapped up in a very reader-friendly style."

Alan Bloom, Head of Restructuring, Ernst&Young, London

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