The Government’s report on pre pack sales has now been made available
In summary it clarifies that there are still concerns over sales to connected parties and the workings of SIP 16. Over a third of sales were for less than market value. At least 1 in 5 SIP 16 statements was found to be non compliant
It is intended that more reliance be placed upon an independent opinion on the sale terms or creditors approval
The full report is available on the Government website
