Pre pack administration: Difference between revisions
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imported>Doug Williamson (Expand final sentence.) |
imported>Doug Williamson (Simplify second sentence.) |
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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 | It can be a way to avoid a successful winding up petition and subsequent liquidation. | ||
Revision as of 11:49, 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.
