Earlier this year, the Insolvency Service produced guidelines – Statement of Insolvency Practice 16 (SIP 16) – to set out administrators’ duties to give full and clear disclosure to creditors as soon as possible after a pre-pack transaction has taken place. The Insolvency Service has now published a report on pre-pack administrations, entitled: Report on the First Six Months’ Operation of Statement of Insolvency Practice 16.
In response to this, the British Property Federation has published a questionnaire for landlords, designed by Lovells LLP, and based on SIP 16. The questionnaire poses 21 questions a landlord will want to ask an administrator once a tenant has been put into administration in order to obtain relevant information about the administration process. The questionnaire can be obtained from:
Lovells’ BPF questionnaire.