Pre-pack administration

Summary

A recent court decision confirmed that transparent pre-pack sales can be used where they are in the best interests of the creditors as a whole. The court ruled that:

Filed under:
United Kingdom, Insolvency & Restructuring, Litigation, Freshfields Bruckhaus Deringer, Unsecured debt, Debt, Liquidation, Precondition, HM Revenue and Customs (UK), UK Department of Trade and Industry, Department for Business, Enterprise and Regulatory Reform
Authors:
Richard Tett , Catherine Balmond , Margaret Rhodes
Location:
United Kingdom
Firm:
Freshfields Bruckhaus Deringer
Rent as administration expense on a pay as you go basis – common sense restored

Snapshot

The Court of Appeal’s judgment in Jervis v Pillar Denton Limited (Game Station) [2014] EWCA Civ 180 on 24 February 2014 has brought welcome clarity to when rent qualifies as an administration expense.

The Court of Appeal has ruled that:

Filed under:
United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Freshfields Bruckhaus Deringer, Unsecured creditor
Authors:
Anne Sharp , Katharina Crinson , Margaret Rhodes , Joanna Davies , Louise Kellaway
Location:
United Kingdom
Firm:
Freshfields Bruckhaus Deringer
Pre-pack administration

Summary

A recent court decision confirmed that transparent pre-pack sales can be used where they are in the best interests of the creditors as a whole. The court ruled that:

Filed under:
United Kingdom, Insolvency & Restructuring, Litigation, Freshfields Bruckhaus Deringer LLP, Unsecured debt, Debt, Liquidation, Precondition, HM Revenue and Customs (UK), Department for Business, Enterprise and Regulatory Reform
Authors:
Richard Tett , Catherine Balmond , Margaret Rhodes
Location:
United Kingdom
Firm:
Freshfields Bruckhaus Deringer LLP