Pre pack administration: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Simplify second sentence.) |
imported>Doug Williamson (Layout.) |
||
| 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. | ||
Revision as of 11:50, 19 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.
