Unpacking the pre-pack review

Pre-packaged administrations are good for the economy, good for jobs and good for business – but they need cleaning up. So concluded Teresa Graham’s report into pre-packaged administration, commissioned as part of the Government’s ‘Trust and Transparency’ agenda and published in June 2014. It proposes a series of reforms, which it urges the industry to adopt on a voluntary basis. The Government has indicated that it agrees with the report’s conclusions, and that it is willing to legislate if the recommendations are not successfully implemented on a voluntary basis.

This briefing considers the report and its recommendations, and in particular reflects on the practicalities of the ‘pre-pack pool’ proposal, which calls for the establishment of a pool of experienced business people to provide independent scrutiny of pre-packaged deals before they take place.