Home -> Law Blog Directory -> Intellectual Property Law Blogs -> The Trade Secrets Vault

Intellectual Property Law

: The Trade Secrets Vault

Pre-packs: trade secrets

By: Mike Jervis A number of recent, high profile cases have cast a critical light on a process used by most insolvency firms the 'pre-pack'. In short, this is where a deal to sell the assets of a failing company is agreed prior to insolvency and completed immediately after the appointment of administrators or receivers. An obvious point for the IP to make is that a pre-packaged sale of a business does not absolve him from his duty to obtain the best price for the business in question. A pre-pack does not miraculously sanitise a sale at less than full value to insiders or existing management. The challenge for IPs is to get better at explaining the circumstances when a pre-pack is the best means of preserving value for creditors and shareholders and their role in the process. To continue reading this article from Accountancy Age, click here.

Full post as published by The Trade Secrets Vault on February 02, 2009 (boomark / email).