Can directors or employees bid in the sale?
Yes. The auction is open to the public, and a former director or employee can register and bid like anyone else. They pay the same buyer's premium and are subject to the same terms. Because the sale is open and advertised, a purchase by a connected party at auction is far easier to justify than a private deal.
This question comes up in
Liquidation and insolvency asset sales
Sales run on the instruction of administrators, liquidators, lenders and landlords, with the records they need.
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