Insolvency & financial distress can be overwhelming, but with the right legal guidance, businesses can navigate these challenges and explore opportunities for recovery or resolution. Foye Legal provides expert legal advice to businesses in NSW, helping them manage insolvency processes, restructure effectively, and protect the interests of directors and stakeholders.
Voluntary administration is an option for financially distressed companies to explore restructuring or recovery while protecting against creditor actions. Foye Legal provides strategic advice and support throughout the voluntary administration process, working closely with administrators and directors to identify viable solutions and secure the best possible outcome for your business.
Facing bankruptcy as a director can be daunting. Our team provides tailored advice to help directors understand their rights and obligations, manage liabilities, and comply with legal requirements. We also assist in exploring alternatives to bankruptcy where possible.
When a company cannot continue operating, liquidation may be the appropriate course of action. Foye Legal guides businesses through this process, ensuring compliance with legal obligations under the Corporations Act 2001 and working to maximize returns to creditors while minimising risks for directors.
Restructuring offers businesses the opportunity to realign their operations, improve financial performance, and regain stability. We work closely with businesses to develop and implement restructuring plans, including negotiating with creditors, optimising debt structures, and securing the resources needed for recovery.
Whatever stage of your business, you need the right lawyer by your side. If you’re looking to start a business, expand or you need support to get back on track, Foye Legal are ready and willing to ensure your business is covered.
Seeking legal assistance early gives you control over your situation, helping you avoid complications and manage costs effectively. This guide provides practical tips, checklists, and key insights to help you confidently navigate legal processes to secure the best possible outcome.
Your first consultation is vital in safeguarding your interests and laying the foundation for the best possible outcome. At Foye Legal, we value the trust you place in us and are committed to providing clarity, strategy and unwavering support from day one.
Voluntary administration allows a company in financial distress to appoint an external administrator to assess its financial situation and explore restructuring or recovery options. The goal is to either save the business or achieve a better return for creditors than immediate liquidation.
Directors must ensure the company does not trade while insolvent (unable to pay its debts as they fall due). Failure to comply can lead to personal liability. Foye Legal provides advice to help directors fulfill their duties and mitigate risks.
Liquidation is the process of winding up a company and distributing its assets to creditors, usually when the business cannot be saved. Voluntary administration is a temporary process aimed at exploring restructuring or recovery options before deciding on the company’s future.
Restructuring can involve renegotiating debt, improving cash flow management, or altering business operations to address financial challenges. It provides an opportunity to recover and build a more sustainable business model.
During liquidation, employees are typically made redundant, and their entitlements (such as unpaid wages, leave, and superannuation) are prioritised in the distribution of the company’s assets. Foye Legal ensures compliance with these obligations to protect employee rights.
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3/1 MEMORIAL DRIVE SHELLHARBOUR CITY NSW 2529
LEVEL 3, 63 MARKET STREET WOLLONGONG NSW 2500
contact us to make an appointment
3/1 MEMORIAL DRIVE SHELLHARBOUR CITY NSW 2529
LEVEL 3, 63 MARKET STREET WOLLONGONG NSW 2500
contact us to make an appointment
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