In The News

UK Announces Connected Pre-Pack Scrutiny Laws

Global Restructuring Review

08 Oct 2020
Reprinted with permission.

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 full article.

Close
Feedback

Disclaimer

Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.