UK pre-pack reforms : pause for thought in Australia?
- Publisher:
- ARITA
- Publication Type:
- Journal Article
- Citation:
- Australian Insolvency Journal, 2011, 23 pp. 12 - 19
- Issue Date:
- 2011-06
Closed Access
| Filename | Description | Size | |||
|---|---|---|---|---|---|
| IPA.PrepackArticle2011.pdf | Published Version | 599.92 kB |
Copyright Clearance Process
- Recently Added
- In Progress
- Closed Access
This item is closed access and not available.
On 31 March 2011 the UK Government announced new measures to regulate the use of pre-packaged sales in administration. The legislation is not expected until later in 2011, but the announcement heralds a shift in regulatory attitudes towards pre-packs in the UK which should give all local pre-pack advocates pause for thought when considering the merits of embracing the procedure in Australia. In the Jan-March 2011 edition of the Australian Insolvency Journal, an interesting article by Nicholas Crouch and Shabnam Amirbeaggi extolled the virtues of pre-packs and called for “legislative reform to embrace pre-packs” in Australia. By way of reply (and in a spirit of constructive debate) this article respectfully contends that while pre-packs certainly have their place in preserving business value in certain circumstances, Australia should be careful not to sleepwalk into adopting a procedure which legitimises phoenixing at the expense of creditor confidence and participation in our insolvency regime.
Please use this identifier to cite or link to this item: