Internet Business Forums - View Single Post

Steve-H · 25-06-2008, 01:36 PM

As bumfluff says you are in the clear. The limited company is the one with the liability for its debts and not the directors. Just so long as you did nothing illegal during your time there and you never secured any of your personal assets against borrowing for the company. Shareholders liability is only to the extent of their holding so if you did still hold shares they would simply become worthless if the company is unable to cover all of its debts.

Basically you have nothing to worry about.

25-06-2008, 01:36 PM	#6 (permalink)
Steve-H Senior Member Join Date: Mar 2005 Location: Midlands, UK Posts: 135	Re: Liquidisation As bumfluff says you are in the clear. The limited company is the one with the liability for its debts and not the directors. Just so long as you did nothing illegal during your time there and you never secured any of your personal assets against borrowing for the company. Shareholders liability is only to the extent of their holding so if you did still hold shares they would simply become worthless if the company is unable to cover all of its debts. Basically you have nothing to worry about. __________________ Steve Company Formation UK Company Registration ~ Company Registration Online 24-7 ~ Last edited by Steve-H; 25-06-2008 at 01:41 PM.