Clifford Chance
Pre-pack report: the good, the bad and the ugly
17 June 2014
Yesterday the independent Graham Review into Pre-pack Administration was
published. Whilst the Report has been carried out on an independent basis, it is
part of Vince Cable's Trust and Transparency agenda, recognising that
business rescue is a key element of an efficient insolvency regime, and that
confidence in that regime will support lending, which in turn will support growth.
Iain White, a partner in our restructuring and insolvency group, welcomes the
recommendations. He says, "This latest review provides a measured response to
the legitimate use of pre-packs in the UK market. It also sends a shot across the
bows of those who seek to abuse the process for their own gain – they will face
greater scrutiny in the future".
