Marcus Rea, head of Deloitte's Reorganisation Services Tax team, discusses the key tax issues facing an administrator in a pre-packaged insolvency
Marcus Rea head of Deloitte's Reorganisation Services Tax team discusses the key tax issues facing an administrator in a pre-packaged insolvency
The pre-packaged administration (pre-pack) involves the disposal of shares (or business and assets) by a company immediately after the appointment of an insolvency practitioner. (Very occasionally a pre-pack can also be affected via a receivership. This possibility is not discussed further in this article.) Such disposals are sometimes to parties entirely uninterested in the previous company's affairs but sometimes to special purpose vehicles established by out-of-the-money senior lenders.
Pre-packs have had a fair amount of bad press of late for disadvantaging unsecured creditors. The argument runs that a...
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Marcus Rea, head of Deloitte's Reorganisation Services Tax team, discusses the key tax issues facing an administrator in a pre-packaged insolvency
Marcus Rea head of Deloitte's Reorganisation Services Tax team discusses the key tax issues facing an administrator in a pre-packaged insolvency
The pre-packaged administration (pre-pack) involves the disposal of shares (or business and assets) by a company immediately after the appointment of an insolvency practitioner. (Very occasionally a pre-pack can also be affected via a receivership. This possibility is not discussed further in this article.) Such disposals are sometimes to parties entirely uninterested in the previous company's affairs but sometimes to special purpose vehicles established by out-of-the-money senior lenders.
Pre-packs have had a fair amount of bad press of late for disadvantaging unsecured creditors. The argument runs that a...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
