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What is a pre-packaged administration?
12th February 2009, Page 20
12th February 2009
Page 20
Page 20, 12th February 2009
— What is a pre-packaged administration?
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In a pre-packaged administration, a deal for the sale of an insolvent company's business and/or assets is put in place before the company goes through a formal insolvency process, which in most cases is administration.
The deal will usually have been worked on before an insolvency practitioner is appointed and then rapidly executed once an appointment is made.