Pre-Pack Sales and Corporate Rescue: A Global Guide

Editors

Eugenio Vaccari (Editor); José Carles (Editor); Carles Cuesta (Editor)

ISBN: 9781035327225

Published: July 2026

Format: Hardback

Language: English

Publisher: Edward Elgar Publishing

Description

Pre-pack sales have become one of the most contested tools in modern corporate rescue, prized for the speed with which they preserve going-concern value and criticised for the limited scrutiny they give to connected-party buyers. This Global Guide brings together detailed, country-by-country analysis of how pre-packaged insolvency procedures actually operate across major and emerging restructuring markets, from England and Wales to the United States, Germany, France, Brazil, China and Singapore.

Each jurisdictional chapter follows a consistent structure, examining the legal architecture behind pre-pack sales, the oversight (or lack of it) applied to transactions involving connected parties, and the most significant recent reforms and court decisions shaping practice. A substantive introductory chapter sets the comparative and transnational context before the volume moves through its seventeen country studies.

Edited by Eugenio Vaccari, José Carles and Carles Cuesta, the volume is designed as a working reference for practitioners structuring cross-border rescues and for the policymakers currently weighing EU-level harmonisation of pre-pack rules.

Key Features

• Enables practitioners to benchmark a proposed pre-pack structure against the rules and safeguards used in 17 different jurisdictions before advising on a cross-border rescue
• Gives restructuring advisors a ready reference for assessing connected-party transaction risk when a distressed group has assets or creditors in more than one country
• Supports legislators and regulators currently reviewing pre-pack and EU harmonisation reform proposals with a single up-to-date comparative source
• Identifies recurring best practices and structural weaknesses drawn from both established restructuring centres and emerging economies
• Integrates doctrinal analysis with practice-facing detail on procedure, timing and stakeholder protection in each jurisdiction

Coverage

Argentina, Australia, Brazil, Canada, England and Wales, France, Germany, Greece, Ireland, Italy, the Netherlands, China, Singapore, South Korea, Spain and the United States, framed by an introductory chapter on the transnational legal context of pre-pack sales.

About the Editors

Eugenio Vaccari is Associate Professor of Law at Royal Holloway, University of London. José Carles is a restructuring and insolvency lawyer at Carles Legal, Madrid. Carles Cuesta co-edits the volume alongside Vaccari and Carles, contributing to its comparative framework.

Table of Contents

• 1. Introduction: pre-pack sales in transnational context
• 2–17. Country chapters: Argentina, Australia, Brazil, Canada, England and Wales, France, Germany, Greece, Ireland, Italy, Netherlands, China, Singapore, South Korea, Spain, United States

Why buy this book?

There is no other single volume that lines up seventeen pre-pack regimes side by side using the same analytical structure. For an institution supporting cross-border restructuring practice, insolvency scholarship or comparative company law teaching, this Global Guide is the reference point for 2026 and the years immediately following it.

Keywords

pre-pack insolvency, corporate rescue, comparative insolvency law, cross-border restructuring, connected-party transactions, global insolvency guide, EU insolvency harmonisation

Target Audience

insolvency and restructuring practitioners, cross-border finance lawyers, academic law libraries, corporate advisors, insolvency policymakers and regulators

Genre

Comparative Law, Insolvency and Restructuring Law, International Commercial Law

Q&A

What is a pre-pack sale in corporate insolvency?
A pre-pack sale is a rescue transaction negotiated before a company formally enters an insolvency procedure, then executed immediately afterwards so the business, or the parts of it worth saving, can keep trading with minimal disruption.

How do pre-packaged insolvency procedures differ across jurisdictions?
Jurisdictions vary widely in how much court or creditor oversight a pre-pack requires, how connected-party sales are scrutinised, and how much transparency is required before a deal completes — differences this Global Guide sets out chapter by chapter.

What are the main criticisms of pre-pack sales to connected parties?
Critics point to limited creditor visibility before completion, the risk that unsecured creditors are left with little recovery, and concerns that connected-party buyers can acquire assets at less than full value.

Which countries have the most developed pre-pack insolvency frameworks?
England and Wales, the United States (through Section 363 sales) and, increasingly, Singapore and the Netherlands have some of the most developed and frequently used pre-pack frameworks, alongside emerging practice in Brazil and China covered in this volume.

Where can I buy Pre-Pack Sales and Corporate Rescue: A Global Guide?
Pre-Pack Sales and Corporate Rescue: A Global Guide is available now from CLNZ Books, with worldwide shipping included and institutional invoicing available on request.

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