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Pre-Pack Administration

What is Pre-Pack Administration?

Pre-pack administration is an Insolvency process allowing the purchase of an Insolvent company’s assets.

A Licensed Insolvency Practitioner (IP) is required to act as Administrator of the company. The appointment of an Administrator takes place at a point of proceedings, so to expedite a sale.

By doing this before there appointment, it protects jobs, preserves asset values, and sustains business momentum.

Assets will transfer to a newly formed company, and continuity of trade is usually assured.

To do a Pre-Pack, the business is required to be valued. It is essential to ensure you cross the “T’s” and dot the “I’s” when carrying out a Pre-Pack. Creditors will take note of what is happening, are things transferred at fair value, so ensure you seek early advice from the to be appointed Administrator.

Please note a Pre-Pack Administration is for the sale of ASSETS and not the COMPANY.

For further help on a Pre-Pack contact HBG Advisory LLP.

Suitable for pre-pack administration?

  • Subject to stringent legislation. The officeholder is required to demonstrate that the process offers the best outcome for creditors.

Why a pre-pack administration?

  • Preservation of asset values:
  • Adverse press subdued:
  • Enables business continuity:
  • Better outcome for Creditors:
  • Job protection:
Immediately stops all creditor legal action
Jobs can be saved when going into Administration
The business doesn't have to cease trading
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