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Howard Morris spoke to Global Restructuring Review about the UK government’s plans to introduce independent scrutiny of pre-pack administration sales where connected parties – such as a company’s existing directors or shareholders – are part of the purchase.

UK Announces Connected Pre-Pack Scrutiny Laws

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Howard Morris spoke to Global Restructuring Review about the UK government’s plans to introduce independent scrutiny of pre-pack administration sales where connected parties – such as a company’s existing directors or shareholders – are part of the purchase.“The simple truth is that there’s a limit to what the government can, perhaps even should, do to arrest the shock our economy is suffering,” Howard said. “The public and company stakeholders, creditors, employees, often find a pre-pack to a connected party offensive; they wake up to find their debtor or employer has filed and its business and assets have already been sold and they have been left behind.”Read the <a target="_blank" href="https://media2.mofo.com/v3/assets/blt5775cc69c999c255/blt632141f458096c84/6273220bdeee7329767e7a0e/201008-grr-uk-pre-pack-scrutiny-laws.pdf">full article</a>.