rssg thought of the month | LONDON 31 Oct 2020

Pre-pack reforms: independent opinion required for administration sales to connected persons

Connected party administration sales are back in the spotlight

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Due to the seriously low uptake, it's been clear for some time that the Pre-Pack Pool has fallen short of its aims to increase transparency and confidence in pre-pack administration sales. Thankfully, the industry's representations on the pre-pack being a valuable part of our restructuring tool-kit have prevailed and a complete ban on connected party pre-pack sales has been avoided. Purchasers will now need to factor into their transactions the additional time and cost it will take to obtain the independent opinion. Olga Galazoula, Restructuring Partner

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