Where an agreement for the sale of either the business or assets or some aspect thereof is reached prior to an administration taking place, that sale usually taking place immediately upon the administration taking effect, or very shortly thereafter.

Restructuring & Insolvency analysis: The court granted an administration application made by the majority shareholder of a company (in its capacity as a creditor of the company), having been satisfied that the company was insolvent and that a proposed pre-pack sale of the company’s business and assets to a new company set up by the beneficial owners of the applicant was likely to achieve the best outcome for the company’s creditors. This case illustrates the need for a proper marketing exercise to be carried out and evidenced in a case where an administration order is sought to facilitate a proposed pre-pack sale. Written by Simon Passfield KC, barrister at Guildhall Chambers and Deputy Insolvency and Companies Court Judge.

A pre-pack administration sale is a sale of a company’s business and/or assets, which has been arranged in advance of a company entering administration, with the sale completing immediately after the appointment (sometimes, a few minutes after). For further reading on pre-packs generally, see Practice Note: What is a pre-pack administration sale? This Practice Note considers the additional obligations required by the Administration (Restrictions on Disposal etc to Connected Persons) Regulations 2021 (the Regulations), SI 2021/427 where the pre-pack sale is to a purchaser connected with the seller company. Note that the Regulations could also apply to post-packs—ie administrations where a sale is negotiated pre-appointment but a marketing process is run following appointment to assess whether a better result can be obtained by a sale to a different party. Why were the Regulations introduced? Pre-pack administrations have historically been seen as controversial. This is because in a pre-pack, the administrator disposes of the company’s assets without any prior scrutiny and before creditors have had an opportunity to either approve or voice concerns over the disposal.

MLex: EU justice ministers will discuss how to set-up pre-pack proceedings throughout the EU at the end of next week, according to a document seen by MLex. The talks are part on the ongoing negotiations on a draft directive partially harmonizing national insolvency procedures.

What is a pre-pack administration sale? A pre-pack is an arrangement under which the sale of all or part of a company’s business and assets is negotiated with a purchaser prior to the appointment of an administrator and the administrator effects the sale immediately on (or shortly after) their appointment. The sale is completed before any meeting of the creditors and without court approval. Although the process has been held to be legal, pre-packs have been increasingly criticised for their lack of transparency and their failure to give proper consideration to the interests of the creditors, particularly where the sale is to the existing management team. The Statement of Insolvency Practice 16 (SIP 16) which governs the conduct of pre-packs, was issued by the Joint Insolvency Committee to address these criticisms. It places certain requirements on the administrator in relation to the pre-pack sale such as increased marketing and the need to obtain a valuation (or explain why no valuation was obtained). It also requires the administrators to prepare a report to creditors (the SIP 16

CASE HUB ARCHIVED—this archived case hub reflects the position at the date of the decision of 18 January 2022; it is no longer maintained. See further, timeline and commentary. Case facts Outline Payment Systems Regulator (PSR) Chapter I investigation into infringements of competition law by five undertakings (Mastercard, allpay, APS, PFS and Sulion) for agreeing not to compete or poach each other’s clients. Latest development On 18 January 2022, the PSR issued its infringement decision finding that five parties infringed competition law by agreeing not to compete or poach each other’s customers in the prepaid cards market in Great Britain. The PSR imposed fines totalling £33,261,352. Total fines imposed on each party were as follows:• Mastercard—£31,560,062 (including a 20% reduction for settling)• PFS—£916,746 (including a reduction for leniency and a 20% reduction for settling)• allpay—£28,553 (including a 20% reduction for settling)• APS—£755,419 (including a 10% reduction for settling)• Sullion—£572 (including a 20% reduction for settling, as well as a reduction to ensure that it did not exceed 10% of its worldwide turnover) Parties •

After paying a one-off fee for the phone and connection, the user buys vouchers which enable them to use the phone.

A pre-trial review hearing.

ARCHIVED: This Practice Note has been archived and is not maintained. This practical guidance relates to the pre-Procurement Act 2023 regime This Practice Note contains guidance relevant to public procurement exercises commenced before the Procurement Act 2023 (PA 2023) came into force on 24 February 2025. In-scope procurements begun on or after this date are governed by PA 2023. Under the transitional and savings provisions for PA 2023, the previous public procurement regimes continue to apply to the extent necessary to allow contracting authorities to complete and manage procurements commenced before PA 2023 came into force (ie ongoing procurements). This Practice Note should be read in that context. For background reading, see Practice Note: Introduction to the Procurement Act 2023—PA 2023. Further practical guidance on PA 2023 is set out in a separate subtopic, see: Procurement Act 2023—overview. PCR 2015 as assimilated law The Public Contracts Regulations 2015 (PCR 2015), SI 2015/102 are EU-derived domestic legislation and therefore assimilated law under sections 2 and 6 of the European Union (Withdrawal)

Introduction The Authority intends to award a [contract OR framework agreement] for [requirement OR project] The procurement is subject to the Public Contracts Regulations 2015 (PCR 2015), SI 2015/102. This pre-qualification questionnaire (PQQ) is based on the standard PQQ recommended to all contracting authorities in statutory guidance issued under PCR 2015, reg 107(1). The Authority will use the information provided in response to this PQQ to make an assessment of the Supplier’s economic and financial standing, technical and professional ability, and general good standing, and to decide who will be invited to [tender OR negotiate] to participate in a [competitive dialogue OR innovation partnership] procedure for the [contract OR framework agreement]. The background to the [requirement OR project] is set out in the accompanying Information Memorandum together with information on how the requirement is structured and the conditions of participation. PQQ responses will be assessed in accordance with the accompanying Evaluation Model. In this PQQ, ‘Authority’ means the public sector contracting authority, or anyone acting on behalf of the contracting authority, that is seeking to invite suitable Suppliers to participate

ARCHIVED: This Practice Note has been archived and is not maintained. This archived Practice Note provides background reading on pre-qualification questionnaires in public procurement prior to the introduction of new statutory guidance and a revised standard form Selection Questionnaire (SQ) for above-threshold public procurement exercises under the Public Contracts Regulations 2015, SI 2015/102. This Practice Note states the law prior to 9 September 2016 and is not maintained. It is for background information only. For more information on the current regime, see Practice Note: Pre-qualification and selection questionnaires—pre-PA 2023 [Archived]. How pre-qualification questionnaires are used In UK practice, the information needed to assess the credentials of bidders for public contracts is conventionally collected by means of a pre-qualification questionnaire (PQQ). In procedures governed by the EU public procurement rules (see Practice Note: Introduction to public contracts procurement—pre PA 2023 [Archived]), the information collected through the PQQ is used to establish whether grounds for exclusion are met and to carry out qualitative selection of bidders. See also Precedent: Pre-qualification questionnaire [Archived]. EU rules PQQs used for

This Practice Note explains when and how pre-sentence reports should be used to aid the determination of sentence following conviction in England and Wales. Pre-sentence reports A pre-sentence report (PSR) is a report usually prepared by the National Probation Service (NPS) (but could be a social worker or member of the youth offending team, for young defendants) with a view to assisting the court in determining the most suitable way of dealing with a defendant at sentencing. The PSR will usually be in writing. It may be presented orally in court unless the defendant is under 18 or the court is considering the imposition of a custodial sentence under specific provisions relating to the imposition of determinate sentences, extended sentences and life sentences on young offenders, in which case it must be in writing. The Sentencing Council’s guideline on the imposition of community and custodial sentence states that when considering a community or custodial sentence, the court must request and consider a PSR before forming an opinion of the sentence, unless it considers that it is unnecessary. This