UK: pre-pack administrations - SIP16 report

The Insolvency Service has published a report on the operation of Statement of Insolvency Practice 16 for the period July to December 2009: see here (pdf). Amongst the report's finding is the following:

... there is no evidence that the level of reported director misconduct in pre-packs (at least those reported under SIP 16) is any greater than the overall level of misconduct reported by insolvency practitioners generally. Nor is there any evidence in conduct reported by insolvency practitioners to support the view that pre-pack administrations have been cynically manipulated by directors in the vast majority of cases".