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Corporate Recovery Farleys Solicitors LLP
Corporate Recovery Farleys Solicitors LLP

Corporate Insolvency Solicitors Blackburn

Insolvency is a hugely delicate issue, so whether you’re dealing with it as an individual or a business, you need practical legal advice you can trust. That’s where we can help here at Farleys, with a team of insolvency experts who can help you reach a solution that works for you.

Our insolvency and restructuring team have considerable experience in acting on behalf of administrators, receivers, liquidators and insolvency practitioners, as well as providing advice on ‘turnaround’ strategies for businesses experiencing financial difficulties.

Our combined pool of specialist experience and firmly established reputation means we have the knowledge and resources to deliver unrivalled results for clients across the UK.

Our corporate insolvency solicitors cover all aspects of corporate insolvency law, from creditors and investors seeking a return from struggling businesses, through to directors attempting to rescue a failing company. We can provide legal advice and expertise on:

Our team also have expertise across a wide range of personal insolvency matters, including bankruptcy, IVAs, debt recovery and statutory demands.

What is Corporate Insolvency?

Corporate insolvency refers to the state of being insolvent. A company can be said to be insolvent when its debts or liabilities outweigh the value of its assets. Frequently, this means that a company is unable to pay its debts as they fall due (which is referred to as cash-flow insolvency).

It’s worth noting a business experiencing corporate insolvency isn’t necessarily facing certain liquidation, although swift action must be taken if this scenario is to be avoided.

Who can get help with Corporate Insolvency in Blackburn?

Here at Farleys, we provide the full spectrum of corporate insolvency services in Blackburn, serving businesses, individuals and insolvency practitioners alike. Our areas of expertise encompass consumer debts, trading liabilities, unpaid tax and VAT, as well as winding up businesses on the grounds of public interest.

Insolvency law for businesses in Blackurn

Our legal specialists provide insolvency law services to Blackburn businesses of all sizes and sectors. We can advise on a wide range of formal insolvency procedures, up to and including the liquidation of your business.

Liquidation is the standard procedure used to wind up a company in the UK. This involves selling the company’s assets and properties, with all proceeds being used to pay back the creditors. If the company in question is solvent at the point of liquidation, this cash may be distributed amongst shareholders.

Liquidation proceedings can take several forms:

  • A Company Voluntary Arrangement or Members Voluntary Arrangement are similar but distinct processes in which the company’s shareholders decide to wind up the business of their own volition.
  • Compulsory Liquidation is a type of liquidation that’s not undertaken on a voluntary basis, but instead initiated by the creditors of a company, normally via a petition to a court. Company directors and shareholders are informed by a notice of intended insolvency proceedings, generally in the form of a Winding Up order or Statutory Demand.

At Farleys Solicitors we always take care to assess your individual circumstances in detail, tailoring our advice to ensure that we recommend the very best course of action for you. This includes advising on the range of insolvency options available to you, in situations where it might be beneficial for you to take proactive voluntary steps towards liquidation. Alternatively, we can examine the most effective avenues to rescue your business.

Equally, we can also provide guidance on how best to respond to Compulsory Liquidation orders, or notices of proceedings. Whatever the specifics of your circumstances, you can trust us to keep your best interests at heart at all times.

Insolvency law for individuals in Blackburn

We also provide a range of insolvency services specifically for individuals, such as company directors. We appreciate that managing debts and liabilities can be an extraordinarily stressful experience, but with our customer-focused approach and decades of expertise, we’re here to minimise that stress by making everything as simple and straightforward for you as we can.

We can guide you on how best to approach any ongoing negotiations with creditors, and help you to arrange informal repayment plans, or attain an Individual Voluntary Agreement (IVA). Where relevant, we can also provide detailed advice on bankruptcy, and any likely ramifications that might arise from non-payment.

Our insolvency services in Blackburn also cover possible enforcement actions by creditors, including explanations of how they will affect you. If appropriate, we can assist you in challenging these enforcement actions, in instances where we’re confident your best interests would be served by doing so.

How can Farleys Corporate Solicitors help?

Farleys Solicitors LLP is a friendly, trusted, and straight-talking local firm with over 50 years of experience in serving clients in Blackburn and across the North West. Our solicitors draw upon a wealth of knowledge and industry-specific expertise in order to answer all of your most pressing questions regarding Administrative Restoration.

Feel free to get in touch with our Blackburn Corporate Solicitors today on 01254 367855 or contact us by email.

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