General
An application to the Pre Pack Pool for an Evaluation Report can only be made via the online application form on this website.The application must be made by the connected party or in the name of the connected party – it can be made by a representative of the applicant but must be in the applicant’s name.
Before starting the application process the applicant should read through the Guidance Documents section of this website – this provides details of the type of information required in support of the application. Without this information the Pool Member Evaluator will not be able to give a “not unreasonable to proceed” opinion on the Evaluation Report, and will therefore have no option but to submit a “case not made” opinion instead.
The Application
The online application form contains input fields for all the required contact and identity information, and allows the applicant to upload the necessary supporting information set out in the Guidance Documents section of this website. Please ensure that all the fields on the online application form are completed.The online application form lists the names of our Pool Member Evaluators so that the applicant can select any individuals who he or she considers may have a conflict of interest. The application will not be allocated to Pool Member Evaluators who are so selected.
Each application is allocated to the next Pool Member on the alphabetical rota - the applicant cannot select a specific Pool Member Evaluator.
Once the online application process has been started, it can be saved and amended and / or completed at any point within 36 hours. An e-mail will be sent to the applicant with an access link back into the saved application.
When all the input fields on the online application form have been filled and the supporting documents have been attached, the system will direct the applicant to a PayPal payment facility.
Payment
The fee is £1,600.00 plus Vat, and payment can only be made via the PayPal facility. Please note that the PayPal payment must be linked to a credit card, as we cannot accept PayPal echeques.What happens next?
Once the application has been submitted and the payment made, the application will be made live on the system and the Pre Pack Pool will be notified immediately that the application has been received. At this point the application will be checked to make sure that the input fields have been completed correctly, and that the relevant supporting documents have been included.The application will be allocated to a Pool Member / Evaluator who will be contacted by e-mail and by text message. The Pool Member has the option to decline the application if he or she considers there is a potential conflict of interest, at which point the application is reallocated to the next Pool Member / Evaluator on the rota. If for some reason the Pool Member / Evaluator does not accept the application within two hours, it will automatically be reallocated to the next Pool Member / Evaluator on the rota.
Once the application has been accepted by a Pool Member Evaluator, we undertake to provide the Evaluation Report within 48 hours excluding weekends. For example if an application is accepted at 4pm on a Tuesday we undertake to provide the Report by 4pm on the following Thursday; if an application is accepted at 4pm on a Friday, we undertake to provide the Report by 4pm on the following Tuesday.
Missing Information
Once the Pool Member has made an initial examination of the application, he or she may advise the Directors of Pre Pack Pool Ltd if there any omissions, or if further information is required in support of the application. The Directors of Pre Pack Pool Ltd will then forward this request to both the applicant and the proposed insolvency practitioner (if the insolvency practitioner’s contact details have been provided on the online application form).The Pool Members are unable to enter into direct conversations with the applicant, as this creates a side dialogue which is not recorded in the application file. Any additional information provided at the request of the Pool Member should therefore be sent as soon as possible by e-mail to governance@prepackpool.co.uk or info@prepackpool.co.uk This information will then be forwarded directly to the Pool Member handling the application, and added to the application record.
Confidentiality
All information provided in support of an application is treated in strict confidence and will be seen only by the Directors of Pre Pack Pool Ltd and the Pool Member Evaluator handling the application. Information supplied by the applicant will not be circulated to the insolvency practitioner, and information supplied by the insolvency practitioner will not be circulated to the applicant. Information can of course be shared between the applicant and the insolvency practitioner, but only if permission is given by the provider of the information, and if Pre Pack Pool Ltd are instructed to do so.The Evaluation Report
Once the Pool Member has completed the evaluation of the application, he or she will submit the Evaluation Report in accordance with the Administration [Restrictions on Disposal etc to Connected Persons] 2021 Regulations (The Regulations), and this will be e-mailed to the applicant and the proposed insolvency practitioner (if the insolvency practitioner’s contact details have been provided on the online application form). The Evaluation Report is a legal document and must be included in the insolvency practitioner’s SIP16 Report to creditors. The format of the Report is set out in The Regulations and the accompanying Government Guidance Notes which can be viewed via the following link:https://www.gov.uk/government/publications/requirements-for-independent-scrutiny-of-the-disposal-of-assets-in-administration-including-pre-pack-sales/requirements-for-independent-scrutiny-of-the-disposal-of-assets-in-administration-including-pre-pack-sales
For additional information please refer to the Q&A section of this website.
Make an application
