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SIP 16 reports - enforcement procedures in pre-pack cases


All IPs are required to follow and maintain the guidance set out in Statements of Insolvency Practice (SIP). The purpose of SIP 16 is to ensure that creditors are given sufficient information to understand the circumstances surrounding that decision and the reasons why the particular course of action was adopted by the practitioner.

Statements of Insolvency Practice 16  

The Service carries out regular reviews of the operation of Statement of Insolvency Practice 16 (SIP 16) on pre-packaged sales in administrations.  Statements of Insolvency Practice set out required practice.

The reports below examine the operation of the SIP by insolvency practitioners and the outcomes of enforcement procedures in pre-pack cases.

The decision as to whether a pre-pack is the appropriate course of action is a commercial judgement for the practitioner. The purpose of the SIP is to ensure that creditors are given sufficient information to understand the circumstances surrounding that decision and the reasons why the particular course of action was adopted by the practitioner.

SIP 16 reports

Report on the Operation of Statement of Insolvency Practice 16, 1 January to 31 December 2011 (DOC, 895 Kb)  

Report on the operation of Statement of Insolvency Practice 16, 2010 (PDF, 279 Kb)   2010    

Report on the Operation of Statement of Insolvency Practice 16, July - December 2009 (PDF, 48 Kb)   2009    

Report on the First Six Months Operation of Statement of Insolvency Practice 16 (PDF, 1.3 Mb)  -  June 2009  

 

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