Pre pack administration: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Simplify second sentence.) |
imported>Doug Williamson m (Categorise.) |
||
| (One intermediate revision by the same user not shown) | |||
| Line 1: | Line 1: | ||
''UK insolvency law - administration.'' | ''UK insolvency law - administration.'' | ||
Pre pack administration is an insolvency procedure where a company arranges to sell its assets to a buyer before appointing an administrator to facilitate the sale. | Pre pack administration is an insolvency procedure where a company: | ||
:arranges to sell its assets to a buyer | |||
:before appointing an administrator to facilitate the sale. | |||
It can be a way to avoid a successful winding up petition and subsequent liquidation. | It can be a way to avoid a successful winding up petition and subsequent liquidation. | ||
| Line 14: | Line 19: | ||
* [[Liquidation]] | * [[Liquidation]] | ||
* [[Winding up petition]] | * [[Winding up petition]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | |||
[[Category:Liquidity_management]] | |||
Latest revision as of 08:36, 24 July 2019
UK insolvency law - administration.
Pre pack administration is an insolvency procedure where a company:
- arranges to sell its assets to a buyer
- before appointing an administrator to facilitate the sale.
It can be a way to avoid a successful winding up petition and subsequent liquidation.
However, pre pack administration is not permitted after a winding up petition has been issued.
