Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
Benn Richards, senior associate with Russell-Cooke, discusses the pre-pack administration sale of a registered charity and questions whether there will be an increase in the numbers of charities failing.
4Children, a large children’s charity and the charity my firm was acting for, transferred a substantial amount of its services and its employees to other service providers immediately after entering administration. This was required to affect an ‘orderly wind down’ of its services in light of the charity’s financial difficulties and to ensure there would be a continuity of those services. The steps that were taken were also in the best interests of the creditors and reduced potential liabilities.
In theory, a pre-pack of a registered charity is no different to any ‘normal’ pre-pack, in that you negotiate a deal with the purchaser prior to the company being placed into administration and effect that deal shortly after the company enters administration.
However, given 4Children’s charitable status and the nature of a charity’s business, the matter was not as straightforward. Some of the additional considerations included:
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234