Flylogix Limited

Flylogix Limited was an emerging market leader in the unmanned aircraft (UAV) sector, pioneering the use of artificial intelligence, satellite communications, and low-cost electronics to deliver smaller, more efficient aircraft that reduce carbon emissions and enhance safety.

Despite strong technological innovation and industry recognition, the company faced significant operational challenges — including adverse weather that led to a backlog of flights, disrupted revenue streams, and severe cash flow pressures.

The company entered Administration on 2 March 2023.

Objectives

• Provide strategic restructuring advice and assess all available options to preserve business value.
• Market the business for sale to secure continuity of trade and employment.
• Maximise recoveries for creditors through a timely and efficient transaction.

Moorfields’ Actions

• Initially engaged in an advisory role, providing options analysis and restructuring guidance to the Board.
• Marketed the business for sale while continuing to assess both solvent and insolvency outcomes.
• When a solvent sale proved unviable, appointed as Administrators to protect the company’s assets and value.
• Conducted a targeted marketing campaign to identify potential purchasers, focusing on industry specialists and investors in aviation and technology.
• Negotiated and completed a sale of the business and assets within four weeks of appointment.

Result

• Successful sale completed on 27 March 2023, providing business continuity.
• Retention of staff, securing employment for a number of key employees.
• Distribution to unsecured creditors, improving the overall return compared to liquidation.
• The transaction ensured that the company’s UAV technology and client relationships continued to operate under new ownership.