Personal Guarantees – What Directors Need to Understand Before They Sign
A personal guarantee is one of the most significant financial commitments a director can make, and also one of the most routinely underestimated. It is the document that turns a business debt into a personal one. For many directors, it represents the moment at which the legal separation between themselves and their company, which limited […]
Understanding the Fiduciary Duties of Directors
Fiduciary duties encompass the responsibilities that directors owe to their companies, including obligations to customers, partners, shareholders, and staff. These duties are largely defined within the UK\’s Companies Act 2006, which sets out the expectations for directors. For specific advice tailored to your circumstances, it\’s wise to consult with a professional advisor. In this article, […]
Understanding your responsibilities as a company director
The law can be a complex topic but sometimes it’s actually very clear and simple. If you are a company director you are legally required to stop trading the moment you become aware that the company of which you are a director is insolvent. There are no ifs, buts or maybes about this, there are, […]