Ministerial press release - pre-pack administrations reform on hold

Edward Davey, the Minister for Employment Relations, Consumer and Postal Affairs in the Department for Business Innovation & Skills, has issued a press release (26th January 2012) reporting that the plans to introduce reform to pre-pack administrations have been put on hold.

Dominic Hopkins, commercial litigation and insolvency partner at Hewitsons, commented: "Following some effective lobbying, the Government have stepped back from the brink of legislating to regulate controversial 'pre-pack' administration sales, opting instead to review the performance of the existing professional conduct regime and its ability to deliver on the twin aims of achieving greater confidence and transparency in such transactions".

Click here to read the written ministerial statement.

For more information please contact Dominic Hopkins at dominichopkins@hewitsons.com or on 01604 233233.