Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Pre-pack administration definition

What does Pre-pack administration mean? A pre-pack administration is an insolvency sale of all or part of a company’s business or assets that is negotiated before administrators are appointed and completed immediately on, or shortly after, their appointment. The term is descriptive rather than statutory, but in Great Britain it is framed by professional and regulatory requirements. Key features include: advance marketing and valuation, agreed sale terms (to a connected or unconnected buyer), and swift completion to preserve goodwill, employment and going-concern value while minimising trading costs. Administrators must act in the best interests of creditors as a whole and provide post-appointment disclosures explaining marketing, valuations,...

Pre-pack administration sales: key principles, costs, advantages and disadvantages, SIP 16 duties, connected person sales rules, case law and reforms (England and Wales)

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

A Pre-pack administration sale—some basic principles

A pre-pack is the pre-arranged sale of a company’s business, assets, or both, executed immediately after the company enters Administration. On appointment, the administrator finalises the deal swiftly to avoid the expense of trading in administration. This route is often chosen to preserve value where the glare of a formal Insolvency could depress asset prices, notably goodwill.

The buyer is lined up and the sale terms settled before appointment, though the intended administrator is typically involved beforehand. Compared with a conventional corporate disposal, pre-packs involve markedly less due diligence. Warranties and guarantees are uncommon to non-existent, and assets are transferred on an as-seen basis (for an illustrative administration sale agreement, see Precedent: Asset purchase agreement—administration sale). Independent, formal valuations of assets and goodwill are required, and any bid must align with those valuations...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...