Director Personal Liability – An Overview
The term “Director Personal Liability” refers to a company debt a director has to pay as an individual.
For example one of the questions our advisers are asked most commonly by directors of companies in financial distress is “Can my company’s creditors take my house?”.
The answer to this question is not straight forward. In general, company debts are not automatically the directors personal debts, but there are some circumstances where they can be. Here is a list of topics that directors should be aware of with regard to personal liability. For other topics there is a menu on the right of this page.
- Director liability for loans and drawings
- Director liability for company tax debts
- Sale of assets at undervalue
- Paying creditors pre-liquidation
- Personal guarantees by directors
- Beware Company Credit Cards!
- Directors duties when facing insolvency
If you would like to learn more about Director Personal Liability, please access our full Director Personal Liability guide created by Insolvency Solutions Group’s specialists explaining this in detail.