Insolvency

Directors Loan account

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Hi another insolvency question, if there is a Directors Loan account does this have to be paid back from his estate?

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By Ruddles
29th Oct 2018 14:00

Who is insolvent - the company or the director?

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By aobrien
29th Oct 2018 14:07

Sorry, the Director has died and the company is being wound up but lots of Creditors. No other Directors

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By lionofludesch
29th Oct 2018 14:12

aobrien wrote:

Sorry, the Director has died and the company is being wound up but lots of Creditors. No other Directors

In that case, yes, of course he - or, rather, his executors - must pay his debts.

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By lionofludesch
29th Oct 2018 14:05

Estate ?

Is he dead ?

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By MeMyselfI
29th Oct 2018 20:36

Yes if in debit and the estate has any assets.

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