Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Insolvency » What Are My Personal Liabilities as a Company Directors

What Are My Personal Liabilities as a Company Directors


Directors as a rule are not personally liable for the debts of the company. This is the main reason for setting up a limited company in the first place, in order that shareholders and directors liabilities are limited. The company is known in law as an artificial person, and is an entirely separate, distinct legal entity which owns the business assets and is liable for the business debts. Shareholders are only liable for any unpaid share capital, which is usually neither here nor there.

RELATED POSTS:

  1. Directors Insolvency ? How to deal with a Personal Guarantee Director’s Insolvency can be a problem especially after a company enters an insolvency procedure, where the directors may have personally...

  2. Potential Implications of Insolvency for Directors Here is a note of the issues that a director of an insolvent company or potentially insolvent company has to...

  3. can the directors of a company put it into liquidation without informing the shareholders? 10 years ago i was one of 5 people who started a small limited company with 20% shares each. due...

  4. Why company directors must avoid wrongful trading It is vitally important that a company director knows when his company is insolvent. Steve Thatcher or Help With...

  5. Insolvent personal services companies who can’t pay their company tax I have had quite a lot of calls in the last three weeks or so from personal services companies who...

Written by

Filed under: Insolvency · Tags: , , ,

Comments are closed.

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player