Working with the prepack pool April 2016

After the noise and concern in 2015 about SIP 16 and the prepack pool, information has started to come forward about what this means in practical, day to day terms.

As regards the prepack pool - and it is of course for the directors of a company in administration, or facing administration, and that is proposing a prepack to submit an application to the prepack pool if they wish - the best comments have been from an insolvency practitioner who told me that 'From our point of view it was dead simple, just a case of sending a standard letter and having a five minute chat with the director submitting the application'. The response from the prepack pool was prompt and did not cause any problems.

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