Proposals To Scrutinise Pre-Pack Administration Sales To Connected Parties
By EsqSocial Corporation 26/02/21
On 8 October 2020 the UK Government published draft regulations which were intended to regulate and scrutinise pre-pack sales to connected parties. The regulations required that, in relation to a sale of all or substantially all of an insolvent company’s business or assets to a connected party, either the administrator obtains the prior approval of the company’s creditors or the buyer obtains an opinion from an independent evaluator as to whether the terms of the sale are reasonable. Following a...
By: Goodwin