Pre-packaged Administration (known as a Pre-Pack) is where it is known that the company is insolvent but the best outcome for creditors requires that there is a pre-arranged sale of the business; either just before or just after the company is placed into Administration.
Safeguards have been introduced as historically creditors may not have been aware of the sale until after it had happened. We can advise on how to ensure that all the correct steps are taken and that the process is completed smoothly.
