Pre-Packs are typically sales of the assets of insolvent businesses which are agreed with a buyer before the old company had failed and which take place as soon as the administrator takes office.
These are not popular with some creditors, who often feel that there has been insufficient opportunity for the market to be tested and the best price achieved. Provided the necessary safeguards are put in place, however, a pre-pack can often be justified as the best way to maximise value for the creditors by maintaining goodwill value through avoiding a break in trading.
Our team acts for sellers, buyers and lenders on pre-packs and other insolvency-related sales.
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