Personal Guarantees on Loans
Does anyone have any pointers to where I can get information on Directors liability when providing personal gurantees and the implications if a Director retires, who was party to this, or the company goes into liquidation or bankruptcy?
Who is still liable, and to what extent?
What insurances are avaialable to cover this gurantee by the parties?
I am currently awaiting details of the loan and all the legalities that were agreed at the time it was taken out.
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