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Pre-packs- patronus or dementor?
Walton, Peter
Walton, Peter
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2018-03
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As fans of Harry Potter will be aware, a Dementor is a dark creature which glories in decay, draining happiness and hope from people and creating an atmosphere of misery and disturbance. A Patronus, on the other hand, is a positive force of hope and happiness providing the desire to survive. The purpose of this note is to consider whether the magic of a pre-packaged administration is more Patronus than Dementor. It is widely, but not universally, accepted that pre-packs often produce the best result for a company in financial distress. They often permit an ailing business to be sold, at a higher price than in liquidation, which safeguards the future of that business as a trading entity with minimal disruption and jobs saved.
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Walton, P. (2018) Pre-packs - patronus or dementor? Recovery, Spring 2018, p. 22.
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en