Posts Tagged ‘personal guarantees’
Liquidator of a Company – Do I have Personal exposure?
The failure of any company is distressing enough, and all company debts would be dealt within the liquidator’s work. There could be elements of the liquidation that cause personal exposure and put your assets such as your home, car or savings at risk. Personal Guarantees This is an area we specialize in. Personal Guarantees may…
Read MorePersonal Guarantees – IS MY HOME AT RISK?
Personal Guarantees – IS MY HOME AT RISK? Personal guarantees are a scourge on entrepreneurial life which very often rear their heads during economic downturns and specifically with a business failure. A Personal Guarantee is sought to typically cover: Limited company finance, in whatever form, to bring as the finance provider would see as a…
Read MorePersonal Guarantee exposure, 97 jobs saved and savings of £560,000
In October 2017, Bell & Company assisted a multi-site Northern Ireland business with Personal Guarantee exposure. The clients instructed Bell & Company regarding their Personal Guarantee Exposure of £200,000 and potentiality loss of the company properties to a Fixed Charge Receiver. The closure of the company would result in 97 employees losing their jobs and many…
Read MoreA Guide to Director’s Personal Guarantees
A Guide to Director’s Personal Guarantees What is a personal guarantee? Why would I need one? At the height of the business boom, banks were often very happy to provide loans to companies. They often required the directors of these businesses to sign an agreement, stating that in case of the company being unable to…
Read MoreCompany Insolvency – Can I be pursued for the debts of my Business?
A simple answer for this is yes if you have signed a personal guarantee on any loans for a limited company, then yes, the very nature of a personal guarantee is that the signator is personally liable for the debts if the company cannot commit to them any longer. It is standard practice that a…
Read MorePersonal Guarantees
During the boom Personal Guarantees were given by numerous individuals to facilitate borrowing by corporate entities and dependent relatives. Now many of those guarantors are in difficulty and their Personal Guarantees are outstanding and have been called on. Do you have clients facing exposure by way of any Personal Guarantee? There are always options available…
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