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Pre-pack Administration reforms approved by Parliament

New pre-pack regulations were approved by Parliament and will come into force on 30 April 2021. The new regulations provide for sales of business assets to connected parties in Administrations to be scrutinised. In summary, an Administrator will be unable to dispose of all (or a substantial part) of the company’s assets to a person co...

Not very many people will have had the pleasure of meeting Claire in person but if you have ever called our office, you will almost definitely have spoken to her as Claire is our longest serving member of staff. She joined Richard J Smith & Co in 1995 on a temporary basis and on a full time, permanent basis from 1996. I know, she doesn’t look old enough!

As well as looking after receptio...

We note with interest the Government’s intention to regulate connected party sales in administrations, see link:

The Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 (legislation.gov.uk)

Interestingly, the restrictions proposed are not actually limited to pre-packs. Instead, they cover substantial disposals to connected parties within 8 weeks of enter...

Many of you will have known Jonathan Trembath for many years already, with Jon having qualified as a licenced insolvency practitioner in 2010 with a few years experience already under his belt at that time.

Jon is based in Cornwall with his wife and young family but spent much of his time in Insolvency working in Plymouth and Exeter. He is very well connected across the region through hi...

Ironic that we bring you our first social media offering after being socially distant on these platforms for such a long time, during a time when being socially distanced is now the norm almost everywhere!

We have not previously boasted a strong social media presence and have preferred instead to meet socially and professionally, to pick up the phone and to even continue with our postal ...