The Benefits of UK-style Pre-packs and Comparisons With Other Jurisdictions

September 2010
Stephen Phillips, Sven-Holger Undritz, David Plch, Thierry Bosly, Risto Ojantakanen

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This article analyses the availability of pre-packaged business sales in a financially stressed scenario ('pre-packs') in certain European jurisdictions and in the USA.

The article will show that companies may increasingly engage in 'forum shopping' attempting to shift their centre of main interests to a jurisdiction which allows them to effect a pre-pack solution.

Discussion of pre-packs has reached the press in the UK and this technique, which is perceived to be very senior lender friendly, is a source of controversy. It is striking however how often pre-packs are used in the UK and it is worth considering therefore whether other jurisdictions in the US and Europe accommodate this technique.

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