The Government's report on pre pack sales

The Government's report on pre pack sales has now been made available

 

In summary it clarifies that there are still concerns  over  sales to connected parties and the workings of SIP 16. Over a third of sales were for less than market value. At least 1 in 5 SIP 16 statements was found to be non compliant

 

It is intended that more reliance be placed upon an independent opinion on the sale terms or creditors approval

 

The full report is available on the Government website

 

 

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