2 November 2015

Establishment of an expert pool to scrutinise pre-packs sales to connected parties

In June last year Teresa Graham CBE presented to Government her report detailing the findings of her review of pre-packaged administrations. Among other recommendations, the Graham Report recommended that creditor and insolvency organisations should develop a process to independently scrutinise sales to connected parties. This recommendation is being taken forward by a steering group of representatives from the various interested organisations including BPIF, Chartered Institute of Credit Management, British Property Federation, Institute of Directors, Association of Business Recovery Professionals (R3), Institute of Chartered Accountants in England and Wales, Chartered Accountants Ireland, Association of Chartered Certified Accountants, Insolvency Practitioners Association and the Institute of Chartered Accountants of Scotland.

The steering group has established a pool of independent experts to provide this independent scrutiny and details of the new expert pool are set out in the press release below.

Pinstripe Print Group MD and BPIF Government & Industry Chair Nigel Lyon represents the BPIF on this steering group and is available for comment. He can be contacted on 07730 955 216.