Pre-pack clean-up — pre-pack administration

The government has published its review of pre-packs following continued disquiet about their merits, particularly among unsecured creditor groups.

Theresa Graham’s review, which was commissioned by Vince Cable, has provided a useful list of recommendations to be implemented, initially on a voluntary basis, in an attempt to ‘clean up’ pre-packs.

The aim of the recommendations, which the government has welcomed, is to provide greater clarity for failing businesses and to increase transparency for creditors. It would be fair to say that ‘good pre-packs’ are here to stay…

Click on the link below to read the rest of the Gateley briefing.

Briefings from Gateley

  • Streamlining loan structures

    EAT., the high-street ‘food-to-go’ retailer, has refinanced its existing credit lines with a new £40m unitranche facility. So what is unitranche financing and why is it used?

  • Mediating property disputes — a necessary evil?

    Commercial litigators have been bombarded over the last year or so with scary cases on costs. The litigation landscape is changing.

View more briefings from Gateley

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