Donate SIGN UP
Home > Business & Finance > liquidated

liquidated

Avatar Image
tony1941 | 14:53 Sun 07th May 2006 | Business & Finance
2 Answers


if a company is forced in to liquidation, for how many years is are the company directors liable for debts?

prev Is there an easy way to change from tenants in common to sole owner?
  
next Spending euros in the UK
Gravatar

Answers

1 to 2 of 2rss feed

Best Answer

No best answer has yet been selected by tony1941. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Avatar Image jason1980
Hi...

With a company, in legal terms the business is to be treated as a seperate entity from it's shareholders/ formers. In liquidation you are not responsible for the comapny debts. It is the company going bankrupt or to be disolved and not your own bankruptcy.

If you were a sole trader then the business is not to be treated as a seperate entity and you will always be responsible for the business debts unless declared bankrupt.
16:59 Sun 07th May 2006
Avatar Image Oneeyedvic
If you have signed personal guarantees, then you are liable these until you either settle the debt or are made bankrupt
18:16 Sun 07th May 2006

1 to 2 of 2rss feed

Do you know the answer?

liquidated

Answer Question >>