In The Press April 28, 2021

Regulations to Scrutinise Pre-Pack Sales to Connected Parties (Corporate Rescue and Insolvency)

On 23 March 2021 legislation to regulate and scrutinise pre-pack sales to connected parties was approved by Parliament. The regulations require that, in relation to a sale or disposal of all or substantially all of an insolvent company’s business or assets to a connected party, either the administrator obtains the prior approval of the company’s creditors or the buyer obtains an opinion from an independent evaluator as to whether the terms of the sale are reasonable discuss Goodwin’s Financial Restructuring members Simon Thomas, Oonagh Steel and Emily Lockhart. Read the byline in Corporate Rescue and Insolvency here.