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UK companies entering administration reaches highest level for ten years
A crackdown on insolvency regulations came into effect on 1 January 2009 that makes it harder for some practitioners to quickly push through controversial sales of businesses in administration.
The new statement of insolvency practice 16 in England and Wales makes it mandatory that administrators disclose detailed information to creditors before and after a pre-packaged administration.
The Business Sale Report looks at the procedure for a pre-pack deal and how the new code sets out the way administrators need conform to best practice.
The full article is available to our paying subscribers.
Subscription costs only £195 for 12 months.
To subscribe, please click here.
Alternatively, you can telephone us on 020 8875 0200.
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2010 is the year to buy distressed and insolvent businesses.
Anyone who has under-utilised capital is in a perfect position to either buy struggling businesses and turn them around, or increase market share by buying weaker competitors.
Read our guide on how entrepreneurs can profit from buying businesses in trouble here.
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