Reply To: Tommy Agonbar interview-R U Convinced??

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Giant Anteater
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Be very afraid of the “pre-pack”. I warned Martin Watson at HUST about this a few weeks ago, as a friend explained it to me and could see it as a TA tactic. They are easy, nasty and highly controversial. Basically the exit route is planned before the business goes into administration for the owners to buy it back without the debt. This has always been part of my view of the plan, and then yes it is asset stripping, having escaped paying more than a fraction of the debt. Martin thinks that if the Council play a straight bat they can prevent this, but it is all very scary.

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