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Corporate Recovery Farleys Solicitors LLP

Corporate Insolvency Solicitors Manchester

Insolvency is a hugely delicate issue that requires a careful and efficient approach, so whether you’re dealing with it as an individual or a business, we know you always need practical legal advice that you can trust. Here at Farleys Solicitors, that’s exactly what we aim to provide. Our team of insolvency experts are here to help you reach a solution that works for you.

Our insolvency and restructuring team have a wealth of 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.

With more than half a century of history behind us, we have the specialist experience and considerable resources at our disposal to deliver first-class results for our clients across the UK.

Farleys’ team of corporate insolvency solicitors cover all aspects of corporate insolvency law, from creditors and investors of a company seeking a return for their struggling businesses, all the way through to directors seeking to avert liquidation for their failing company. Our legal advice and expertise encompasses the following areas:

  • Directors and Duties
  • Administration Applications
  • Administration Restoration
  • Claims by Administrators or Liquidators
  • Injunctions to Restrain Winding Up Petitions
  • Corporate Insolvency and Government Act 2020

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 financially insolvent. A company can be said to be insolvent when its debts or liabilities outweigh the value of its assets. In these sorts of situations, this often means that a company is unable to pay its debts as they fall due. (This is referred to specifically as cash-flow insolvency.)

It’s worth noting that corporate insolvency doesn’t necessarily mean that a business will face certain liquidation, and many businesses recover from being insolvent. However, this requires swift remedial action on behalf of the company shareholders or management if the company is to have any hope of returning to a solid financial footing.

Who can get help with Corporate Insolvency in Manchester?

Here at Farleys, we provide the full spectrum of corporate insolvency services in Manchester, serving businesses, individuals and insolvency practitioners alike. Consumer debts, trading liabilities, unpaid tax and VAT, and Wind Up orders all fall well within our areas of expertise, and we can provide advice about each of these areas in isolation, or as part of a wider approach to your general situation.

Insolvency law for businesses in Manchester

Our legal specialists provide insolvency law services to Manchester businesses of all sizes and sectors, ranging from SMEs to larger corporations and even international enterprises. Drawing upon our decades of expertise, we can advise on a comprehensive array of formal insolvency procedures, up to and including the liquidation of your business.

In business and accounting, liquidation is the process used to formally bring a company to an end here in the UK. If the company has any remaining assets or properties, these will be sold as part of the process, with all proceeds used to reimburse the company’s creditors. If the company is still solvent at the point of liquidation, the generated cash may be distributed amongst its shareholders.

Liquidation proceedings can take several forms:

  • In cases where company’s shareholders decide to wind up the business of their own volition, they may decide to do so with a Company Voluntary Arrangement or a Members Voluntary Arrangement, which are similar but distinct processes.
  • If the liquidation has been ordered by a court – normally as the result of petitioning by a creditor – it becomes a Compulsory Liquidation. The directors and shareholders of the business are formally notified in writing of the initiation of these proceedings, typically by a Winding Up order or a Statutory Demand.

At Farleys Solicitors, we always tailor our approach to suit your individual circumstances, assessing your needs and helping you work towards the most desirable outcome for you. In situations where we deem it might be beneficial for you to take proactive voluntary steps towards liquidation, we will be clear about the reasons why, and can advise on the range of insolvency options available to you. Alternatively, if you’d prefer, we can use our expertise to help formulate a turnaround strategy which has the best chance of rescuing your business.

If your company has received an official notification of formal proceedings, such as a Statutory Demand or a Winding Up order that signifies the onset of a Compulsory Liquidation order, we can assist you in working out the best way to respond. Whatever the specifics of your circumstances, you can trust us to ensure we’re always acting with your best interests at heart.

Insolvency law for individuals in Manchester

We offer a range of insolvency services specifically tailored for individuals, such as company directors and other senior staff. We recognise that navigating your way through any sorts of legal proceedings can be an intensely stressful experience, but here at Farleys Solicitors our aim is to minimise that stress by making everything as simple and straightforward for you as we can.

We can provide helpful guidance on how to approach negotiations with creditors, including the arrangement of any informal payment plans or Individual Voluntary Agreements (IVA). If the issue of bankruptcy is relevant to your case, we can provide detailed advice as to the most significant factors that relate to your situation. We’ll also identify and fully explain any implications that might arise from non-payment.

Our insolvency services in Manchester also cover possible enforcement actions by creditors, and explaining all the ways in which these could affect you. If appropriate, we can provide assistance and support in challenging these enforcement actions, in circumstances where we feel 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 Manchester 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 Manchester Corporate Solicitors today on 0161 660 4254 or contact us by email.

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