The Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021
Under The Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021, which take effect from 30 April 2021, an Administrator must not make a substantial disposal within 8 weeks of their appointment, unless either one of the following two conditions is met:
(a) The approval of the company’s creditors for the making of that disposal has been obtained.
(b) A qualifying report in respect of the making of that disposal has been obtained.
Should option (b) be pursued, then the proposed purchaser must obtain a Qualifying Report from an Evaluator.
The Administrator must ensure that the Evaluator that is providing the Qualifying Report, meets the requirements set out in the legislation.
Having met the requirements set out in the regulations to act as an Evaluator, J9 Advisory are pleased to be able to offer this service to Connected Purchasers.
Johnny Abraham is:
- A Fellow Member of the Institute of Chartered Accountants in England and Wales,
- An Accredited Member of the Institute for Turnaround,
- Has over 19 years of experience in Business Rescue and Restructuring,
- Has met all of the requirements set out in The Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021.
Johnny Abraham of J9 Advisory can therefore:
1) Provide a Qualifying Report to a proposed purchaser as an Evaluator, or
2) If you are a proposed purchaser who requires assistance in collating an information pack in order to make a prompt application to another Evaluator.
Please do not hesitate to get in touch if you would like to discuss the above.