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…
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