Claims against Directors
Despite being a director of a limited liability company, it is often the case that claims can be bought against directors in their personal capacities following a company’s insolvency or as a result of the director’s breach of duties.
Claims can be made against directors in their personal capacity by creditors, HMRC, the secretary of state, insolvency practitioners, other shareholders or sometimes even the company itself. Examples of those claims may include (but are not limited to) breach of duties, misfeasance, repayment of director loans, director disqualification, wrongful trading and/or antecedent transactions.
When this happens, directors could be faced with the risk of losing their family home, or even becoming bankrupt.
Summit Law LLP can assist in advising you of your duties as a director so that you can avoid situations such as the above. In the event that a claim has already been commenced against you, we can assist by defending such claims to avoid unwanted losses.
This area of law can become complex, so it is essential that you seek advice at the earliest opportunity.
“I have no hesitation in recommending Jeremy Boyle (Solicitor) at Summit Law LLP. I was a Joint Liquidator of a nightclub business and Jeremy and his team recovered over half a million pounds in damages following a successful application under Section 423 of the Insolvency Act 1986. Would I use him again? Yes definitely”. Ian Robert