Appendix 1
Specimen Wording for Pool Member statements
Specimen Wording 1 – Not unreasonable to proceed
OPINION ON PROPOSED PRE-PACKAGED SALE INVOLVING
[OLDCO]
and [APPLICANT]
This opinion has been given by me in accordance with the request made by [Applicant] to Pre Pack Pool Ltd.
[Applicant] is a connected party to [Oldco] because:
[they were a director, shadow director or company officer of [Oldco]]
[they were an associate, as defined in [section 435 of the Insolvency Act 1985/article 4 of the Insolvency (Northern Ireland) Order 1989] of a director, shadow director or company officer of [Oldco]]
[an associate , as defined in [section 435 of the Insolvency Act 1985/article 4 of the Insolvency (Northern Ireland) Order 1989], of [Oldco]]
who
[is or will become a director, shadow director or company officer of [Newco]]
[Exercises or will exercise control over [Newco], as defined in [section 435 of the Insolvency Act 1986/article 4 of the Insolvency (Northern Ireland) Order 1989]]
[is or will become an associate of a director, shadow director or company officer of [Newco]]
[is or will become an associate of [Newco]]
I have reviewed the evidence provided by [Applicant]. This consists of:
[Evidence item 1
Evidence item 2… , etc]
In undertaking my review I have relied on the information and evidence provided by [Applicant] and have not undertaken a detailed audit or verification of the information or evidence provided.
For the avoidance of doubt, I express no opinion on whether [Newco] is, or will in the future remain a going concern. This is a matter for [Applicant]. Neither do I express an opinion on any decision of the administrator of [Oldco] to enter into a pre-packaged sale. This is a matter for the administrator.
The administrator’s duties relate to [Oldco] and its creditors, not to [Newco] or its creditors or future creditors (or any other person). The administrator’s duties are not affected by this opinion.
The request for an opinion is voluntary and no liability attaches to me or to Pre Pack Pool Ltd as a result of this opinion.
I confirm that I have no personal, professional or other relationship with any party connected to [Oldco] or [Newco], and that no relationship, bias or ethical conflict exists which prevents me from evaluating this application solely on its merits.
Opinion
Based on my review, I have not found anything to suggest that the grounds for the proposed pre-packaged sale outlined in the application are unreasonable.
[Reviewer Name]
[Date of opinion]
Specimen Wording 2 – Not unreasonable to proceed but with minor limitations on evidence
OPINION ON PROPOSED PRE-PACKAGED SALE INVOLVING
[OLDCO]
and [APPLICANT]
This opinion has been given by me in accordance with the request made by [Applicant] to Pre Pack Pool Ltd.
[Applicant] is a connected party to [Oldco] because:
[they were a director, shadow director or company officer of [Oldco]]
[they were an associate, as defined in [section 435 of the Insolvency Act 1985/article 4 of the Insolvency (Northern Ireland) Order 1989] of a director, shadow director or company officer of [Oldco]]
[an associate, as defined in [section 435 of the Insolvency Act 1985/article 4 of the Insolvency (Northern Ireland) Order 1989], of [Oldco]]
who
[is or will become a director, shadow director or company officer of [Newco]]
[Exercises or will exercise control over [Newco], as defined in [section 435 of the Insolvency Act 1986/article 4 of the Insolvency (Northern Ireland) Order 1989]]
[is or will become an associate of a director, shadow director or company officer of [Newco]]
[is or will become an associate of [Newco]]
I have reviewed the evidence provided by [Applicant]. This consists of:
[Evidence item 1
Evidence item 2… , etc]
In undertaking my review I have relied on the information and evidence provided by [Applicant] and have not undertaken a detailed audit or verification of the information or evidence provided.
For the avoidance of doubt, I express no opinion on whether [Newco] is, or will in the future remain a going concern. This is a matter for [Applicant]. Neither do I express an opinion on any decision of the administrator of [Oldco] to enter into a pre-packaged sale. This is a matter for the administrator.
The administrator’s duties relate to [Oldco] and its creditors, not to [Newco] or its creditors or future creditors (or any other person). The administrator’s duties are not affected by this opinion.
The request for an opinion is voluntary and no liability attaches to me or to Pre Pack Pool Ltd as a result of this opinion.
I confirm that I have no personal, professional or other relationship with any party connected to [Oldco] or [Newco], and that no relationship, bias or ethical conflict exists which prevents me from evaluating this application solely on its merits.
Opinion
Based on my review, except for the matters detailed below, I have not found anything to suggest that the grounds for the proposed pre-packaged sale outlined in the application are unreasonable.
Evidence provided in support of the application was limited in some aspects as follows:
[Evidence item 1
Evidence item 2….etc]
[Reviewer Name]
[Date of opinion]
Specimen Wording 3 – Case not made
OPINION ON PROPOSED PRE-PACKAGED SALE INVOLVING
[OLDCO]
and [APPLICANT]
This opinion has been given by me in accordance with the request made by [Applicant] to Pre Pack Pool Ltd.
[Applicant] is a connected party to [Oldco] because:
[they were a director, shadow director or company officer of [Oldco]]
[they were an associate, as defined in [section 435 of the Insolvency Act 1985/article 4 of the Insolvency (Northern Ireland) Order 1989] of a director, shadow director or company officer of [Oldco]]
[an associate , as defined in [section 435 of the Insolvency Act 1985/article 4 of the Insolvency (Northern Ireland) Order 1989], of [Oldco]]
who
[is or will become a director, shadow director or company officer of [Newco]]
[Exercises or will exercise control over [Newco], as defined in [section 435 of the Insolvency Act 1986/article 4 of the Insolvency (Northern Ireland) Order 1989]]
[is or will become an associate of a director, shadow director or company officer of [Newco]]
[is or will become an associate of [Newco]]
I have reviewed the evidence provided by [Applicant]. This consists of:
[Evidence item 1
Evidence item 2… , etc]
In undertaking my review I have relied on the information and evidence provided by [Applicant] and have not undertaken a detailed audit or verification of the information or evidence provided.
For the avoidance of doubt, I express no view on whether [Newco] is, or will in the future remain a going concern. This is a matter for [Applicant]. Neither do I express a view on the decision of the administrator of [Oldco] to enter into a pre-packaged sale. This is a matter for the administrator.
The administrator’s duties relate to [Oldco] and its creditors, not to [Newco] or its creditors or future creditors (or any other person). The administrator’s duties are not affected by this opinion.
The request for an opinion is voluntary and no liability attaches to me or to Pre Pack Pool Ltd as a result of this opinion.
I confirm that I have no personal, professional or other relationship with any party connected to [Oldco] or [Newco], and that no relationship, bias or ethical conflict exists which prevents me from evaluating this application solely on its merits.
Opinion
Based on my review, the evidence I have seen is not sufficient to support an opinion that there are reasonable grounds for the proposed pre-packaged sale outlined in the application.
[Reviewer Name]
[Date of opinion]