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December 3, 2015

Pre-Pack administrations can allow an insolvent company to sell off its business and assets free of debt without notice to its creditors. Sometimes the sale is to the same people who ran the company into the ground. Creditors often feel short changed. If the company has to apply to Court to enter administration, there is a protection from Pre-Packs, but creditors have to be alert.

 

When a creditor petitions to wind up a company that owes an undisputed debt, the ideal result is that the startled...

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