Pre-packaged administrations: bargains in the shadow of insolvency or shadowy bargains?

Examines the development of administration-related pre-packs, involving agreements between troubled companies and their creditors before statutory administration procedures. Comments on the rise of the pre-pack, their advantages and concerns regarding their use. Highlights the statutory protections available to creditors in troubled companies. Identifies possible control systems to govern pre-packs, focusing on managerial, professional ethics and regulatory approaches, and evaluates their use.