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What Is A Viability Statement?

The quick answer

This is used in a pre-pack administration to prove that the person buying the assets and business are viable themselves and will not fall quickly into insolvency.

In more detail

A viability statement is a requirement of Statement of Insolvency Practice 16 which covers all the extra reporting rules and requirements to satisfy a pre-pack administration has been properly used.

There is no exact form of a viability statement but usually a cash flow projection showing that funds are available and can support the working capital needed for the new business is sufficient.

tip

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Author: David Kirk - ACA FABRP
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David Kirk

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