Tag Archives: pre-pack

Mandatory independent scrutiny of pre-pack sales to connected parties to be introduced in the UK

On 8 October 2020, the UK government published a report reviewing voluntary measures introduced in 2015 to improve the transparency of pre-pack sales in administration. There is no legal definition of a pre-pack, although the term is used to explain the sale of a insolvent business by an administrator back to existing management (usually on … Continue Reading

A sobering reminder of the potential pitfalls in doing a “pre-pack” administration

VE Vegas Investors IV LLC and others vs Shinners and others [2018] EWHC 186 Ch Background The applicants were creditors of VE Interactive Limited (In administration) (“VE”). VE encountered financial difficulties and its directors sought insolvency advice from insolvency practitioners at Smith and Williamson (“S&W”) and appointed them to advise on and effect a pre-pack … Continue Reading

A Trip through an Oil and Gas Bankruptcy – In Only Seventeen Days

In bankruptcy cases, things often move more slowly than people would like or expect.  In addition to dealing with oversight by the bankruptcy court and the United States Trustee, a debtor typically spends significant time engaging with its lenders and secured creditors, committees of unsecured creditors, and any number of other key stakeholders.  Court approval … Continue Reading
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