What Is Pre-Pack Insolvency Process?

Ancoraa Resolution29 Sep, 2022Finance

Pre-pack is considered as 'Debtor-in-possession and creditor-in-control' model of resolution, which ultimately has the benefits and structure of formal insolvency proceedings. It entails keeping the promoters in possession of the Corporate Debtor (CD), who can continue to run it as a going concern, thereby ensuring minimal disruptions in the business activities and preservation of jobs.