10 November 2020: Proposed legislation which places certain conditions on connected person sales in administration is very much under the spotlight. Will the proposed regulations solve the perception problem?
A framework in which companies can be rescued or dissolved but endeavours to preserve jobs and look out for creditors is intrinsic to doing business.
COVID and the pressures it has put on the viability of some businesses has prompted changes to insolvency legislation, and it is hoped that the measures introduced in the Corporate Insolvency and Governance Act 2020 will help businesses bounce back and recover.
However, one element of the insolvency process namely pre-pack sales is still suffering from a perception problem. The perc…
Read the full article at: https://www.icaew.com/insights/viewpoints-on-the-news/2020/nov-2020/administration-key-questions-remain-about-prepack-sales
