Podcast Location:
Download it here [file size: 27.3 MB]
Categories:
Corporate & Commercial Law
Insolvency & Restructuring
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast is aimed at practitioners interested in the UK’s rescue culture – specifically the concept of a pre-packaged administration. It explores the key features of a ‘pre-pack’ administration, the various controversies surrounding the process and the factors that need to be understood before embarking along this path.

Outcomes:
After completing the course you will:
  • Know what a ‘pre-pack’ administration is;
  • Know the different types of ‘pre-pack’ administration;
  • Know the pros and cons of using a ‘pre-pack’ rather than a trading administration route out of insolvency;
  • Understand why controversy surrounds the use of ‘pre-pack’ administrations;
  • Understand to what extent a ‘pre-pack’ administration fulfils the statutory purposes which an administrator must seek to achieve;
  • Understand the relevant considerations in deciding whether to proceed with pre-pack;
  • Understand what implications a pre-pack administration has for the fiduciary and statutory duties of directors;
  • Know what duties an administrator has in relation to a company going through a pre-pack administration;
  • Understand the issues surrounding achieving best value and marketing assets;
  • Understand the purpose, scope and effect of SIP 16;
  • Understand how the UK’s administration regime compares with other like processes in Europe and north America.
Level:
Intermediate Difficulty: 3 of 5
Classification:
Legal Principles
Sources and References:
  • Statement of Insolvency Practice 16 - Pre-Packaged Sales in Administrations (England And Wales);
  • Companies Act 2006 s190;
  • Insolvency Act 1986 s216;
  • Clydesdale Financial Services Limited and others v Smailes [2009] EWHC 1745 (Ch).
Tags:

This podcast with expert restructuring partner Giles Boothman at Ashurst explores the idea of a ‘pre-packaged’ administration – a controversial procedure used in order to effect a business rescue when a company gets into financial difficulty.

Podcast added: 13/06/12

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