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Between On 16 February 2015 Mr Kelly, in his capacity as joint administrator, sent to creditors his first notification of the pre-packaged sale he completed which did not comply with Statement of Insolvency Practice 16 in that it failed to disclose:
Sufficient detail on the valuation and the sale consideration, with no comparison of the same.
Any background information or reasons for the administration.
Any reference to the statutory purpose of the administration and no statement confirming that the statutory purpose has been achieved by the pre-packaged sale.
Any information on the rationale for the pre-packaged sale and the reasons why it was in the best interests of the creditors