No special treatment for landlords in review of pre-packs, but ‘clean-up’ recommended
By Nick Lloyd and Glen Flannery
On 16 June 2014, the UK government published the findings and recommendations of an independent review into pre-pack administrations, carried out by Teresa Graham CBE. Graham was deputy chair of the government’s Better Regulation Commission (BRC). She is also immediate past chair of the Regulatory Board of the Royal Institution of Chartered Surveyors.
Instead of an outright ban on pre-packs, which had been sought by some opponents of the technique, Graham wants to see a ‘clean-up’ involving ‘major improvements on how [pre-packs] are administered’.
She has proposed that this be achieved through a package of six voluntary measures, two of which focus on pre-pack sales to connected party purchasers, which account for almost two thirds of pre-packs…
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