Journal article
A Comparative Analysis of Anglo-Australian Pre-packs: Can the Means Be Made to Justify the Ends?
International insolvency review, Vol.21(3), pp.143-223
11/2012
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Abstract
Whereas pre-packaged administrations have been prevalent in the UK for years, Australia's voluntary administration regime has been more restrictive of the practice. This article analyses the evolution of UK pre-packs, why UK-style pre-packs are not prevalent in Australia and the challenges for UK and Australian lawmakers in striking the right balance with pre-packs in their respective administration regimes. Building upon this analysis, the article proposes a mechanism that might make connected-party pre-pack business sales work more fairly for stakeholders that is, by obligating a connected-party purchaser to make a future-income contribution in favour of the insolvent company whose business has been rescued by a pre-packaged sale in administration. Copyright (c) 2012 INSOL International and John Wiley & Sons, Ltd.
Details
- Title
- A Comparative Analysis of Anglo-Australian Pre-packs: Can the Means Be Made to Justify the Ends?
- Creators
- Mark Wellard - Queensland University of TechnologyPeter Walton - University of Wolverhampton
- Publication Details
- International insolvency review, Vol.21(3), pp.143-223
- Publisher
- Wiley
- Number of pages
- 39
- Identifiers
- 991013227010602368
- Copyright
- © 2012 INSOL International and John Wiley & Sons, Ltd
- Academic Unit
- Faculty of Business, Law and Arts
- Language
- English
- Resource Type
- Journal article