Why is an Evaluator needed in a “Pre Pack” Process?

The Administration (Restrictions on Disposals etc to Connected Persons) Regulations 2021 requires either a creditor approval of independent written report from an Evaluator before a pre-pack sale can be completed. The regulations now apply to all administrations. An administrator cannot complete a pre-pack sale or dispose of a significant part of the business to a connected person within the first eight weeks of administration UNLESS either: (i) prior creditor approval is obtained or (ii) a qualifying report is received. The connected person must obtain this report, which details the evaluator’s experience, identifies the assets involved in the sale, specifies the consideration to be paid, and confirms that “the evaluator is satisfied that the consideration for the relevant property and the grounds for the substantial disposal are reasonable in the circumstances.

Meet the Evaluator: Jeremy Bennett

Jeremy Bennett (JB) is uniquely qualified to provide evaluator reports. He is a lawyer of over 30 years standing as well as a qualified and licensed Insolvency Practitioner. He is

such JB clearly meets the Evaluator criteria under the Regulations and has the wide ranging legal and insolvency experience to make sure that the evaluator process is dealt with properly and in a timely manner given the strict time scales that are always required for this process.