UK: Pre-Pack Pool publishes its first annual report

The Pre-Pack Pool has published its first annual report: see here (pdf). The Pool was launched in November 2015, in response to one of the key recommendations in the Graham Review. The Pool was set up to provide  an independent review of proposed connected party pre-pack transactions before they are completed, thereby providing an assurance for creditors.

The report notes that between 1 November 2015 and 31 December 2016, the Pool received for review 53 proposed connected party pre-pack purchases. The majority of these received a 'not unreasonable' opinion; six received a 'case not made' opinion. The report also notes that the number of pre-packs has fallen faster than the overall decline in administrations, and that the number of connected party purchases has also fallen.