Pre-pack administration

What is a Pre-pack administration?

When a company is to go into Administration and needs to be sold as a going concern and cannot afford to cease trading then the directors, in conjunction with the proposed Administrator, will obtain an independent valuation which will be carried out by professional qualified valuer. This valuation will be used to negotiate a sale contract which will be drafted and ready to be signed on the same day as the appointment of the Administrator.

 

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