A comparative analysis of Anglo-Australian pre-packs : can the means be made to justify the ends?

Wellard, MN; Walton, P

A comparative analysis of Anglo-Australian pre-packs : can the means be made to justify the ends?

Wellard, MN

Walton, P

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Publisher:: John Wiley & Sons Inc
Publication Type:: Journal Article
Citation:: International Insolvency Review, 2012
Issue Date:: 2012-09

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Field	Value	Language
dc.contributor.author	Wellard, MN https://orcid.org/0000-0003-3784-2079	en_US
dc.contributor.author	Walton, P	en_US
dc.date.issued	2012-09	en_US
dc.identifier.citation	International Insolvency Review, 2012	en_US
dc.identifier.uri	http://hdl.handle.net/10453/134012
dc.description.abstract	Pre-packaged administrations have been prevalent in the UK for years. However, Australia’s voluntary administration regime has been more restrictive of the practice. This article analyses the evolution of UK pre-packs, why they are not prevalent in Australia and the challenges for UK and Australian lawmakers in striking the right balance with pre-packs in their respective administration regimes. The article proposes a mechanism that might make ‘connected-party’ pre-pack business sales work more fairly for stakeholders — that is, by obligating a connected-party purchaser to make a future-income contribution in favour of the insolvent company whose business has been ‘rescued’ by a pre-packaged sale in administration.	en_US
dc.publisher	John Wiley & Sons Inc	en_US
dc.relation.ispartof	International Insolvency Review	en_US
dc.relation.isbasedon	10.1002/iir.1201	en_US
dc.title	A comparative analysis of Anglo-Australian pre-packs : can the means be made to justify the ends?	en_US
dc.type	Journal Article
utslib.for	1801 Law	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Law
utslib.copyright.status	closed_access
pubs.consider-herdc	false	en_US

Abstract:

Pre-packaged administrations have been prevalent in the UK for years. However, Australia’s voluntary administration regime has been more restrictive of the practice. This article analyses the evolution of UK pre-packs, why they are not prevalent in Australia and the challenges for UK and Australian lawmakers in striking the right balance with pre-packs in their respective administration regimes. The article proposes a mechanism that might make ‘connected-party’ pre-pack business sales work more fairly for stakeholders — that is, by obligating a connected-party purchaser to make a future-income contribution in favour of the insolvent company whose business has been ‘rescued’ by a pre-packaged sale in administration.

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http://hdl.handle.net/10453/134012