The Administration (Restrictions on Disposal to Connected Persons) Regulsations 2021 changed the landscape for those involved in pre-pack Administrations.
Who is 'connected'? Who is an 'officer'? Who is a 'non-employed associate'? When must an insolvency professional draft and submit a qualifying report?
NTI's CPD and Technical Team have today (Monday 30 January) completed the recording of a CPD TAP webcast during wihich Neil interviews Gareth Wilcox about the Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021.
In a debate about pre-pack Administration best practice we review and explain the need for qualifying reports if there is any suggestion of 'connection' between the seller and buyer in a pre-pack.
It is a 'must listen and share with your team'. If you are doing the JIEB this year this MUST be added to your list.