Pre pack liquidation is a bit of a misnomer.
A pre pack is the term normally used where the business and assets are sold to a third party or "newco" and the "oldco" is put into administration in one movement. When people refer to a pre pack liquidation they are most likely thinking of a phoenix. There is no simultaneous transaction. To read the differences see our page on pre pack liquidation.
There is so much misunderstanding of the insolvency world. So for a clearer understanding read our insolvency advice site at www.companyrescue.co.uk