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Director Liability Review

Don’t wait until liquidation to understand your personal liabilities.

Plan for liquidation at the earliest signs of stress to mitigate personal risk.

If your business were to ever fail, do you know how this will impact you personally?

Nobody plans for business failure but why not act now to ensure that if things go wrong, you have taken steps to protect yourself. Personal Guarantees UK’s Director Liability Review (“DLR”) will:

  • Identify and validate all potential claims and liabilities
  • Include a review of your personal financial circumstances to limit your exposure
  • Recommend an action plan to renegotiate, mitigate or eliminate these claims
  • If claims cannot be avoided, provide a guide as to what you will need to settle them

Directors can be subject to lots of different claims, many of which you may not even be aware of.

Being a company director means that in the event of business failure you can be subject to many different personal claims. The most obvious are personal guarantee claims. However, there are many different types of complex antecedent transaction claims and misfeasance claims which can be brought by the insolvency practitioner for actions you have taken during your time as a director.

Many directors enter insolvency with no prior knowledge of the issues they may face or the personal financial claims which may result.

Taking action early can limit your exposure

The key DLR deliverable – An action plan you can implement with confidence.

Contained within the DLR is a full action plan which can be implemented in conjunction with your professional advisors. Understanding what your current and potential liabilities is complex. It involves both insolvency and accounting knowledge and an understanding of the relevant Company Act legislation.

When taking any action to eliminate or mitigate your liabilities it is essential to ensure that those actions do not result in further claims against you. Antecedent transactions and misfeasance claims against directors in the event of insolvency are complex and need careful consideration.

“If your bank is insisting on an Independent Business Review (“IBR”) in order to assess their risk, you need to take action to protect your own position.”

Free Initial Consultation on Director Liability Review Planning.

Find out more about:

  • What claims you may face 
  • How your personal financial circumstances could limit your exposure
  • What the action plan will include
  • How unavoidable claims can be settled

Plan for the worst and hope for the best. Remove the anxiety caused by dealing with a company showing the first signs of stress which may have personal implications for you. Personal Guarantees UK have the insolvency knowledge and qualifications to help you plan for the worst and make sure your personal financial risks are removed or mitigated.