Pre Pack Agreement

It`s likely that you`ll need separate legal advice for both companies, so speak with lawyers with insolvency and pre-pack experience. New legislation is being considered, which means that sales to related parties must be „evaluated“. Read this article for more information Venkatasubramanian also said that pre-pack would act as an important alternative solution mechanism to the CIRP and help reduce the burden of NCLTs. Before starting a pre-pack process, you should think about how your current suppliers, customers and creditors would feel in their relationship with Newco. Remember that once the sale of the business to Newco is complete, some may suffer a financial loss…

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