Decisions delayed due to personal liabilities arising It is never easy for a director to make the decision that their Company needs to enter a formal insolvency process. This is all the more so if it is going to lead to a personal financial claim; usually personal guarantees or overdrawn loan accounts. The director of course should not be bringing this into account in coming
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I am sure that nobody needs reminding that the insolvency exemption appears (almost certain) to disappear as of 31 March 2016. The impact relates to the recoverability of success fees and ATE premiums in successful litigation, which in turn impacts upon the return to creditors of the insolvent estate. The exemption was granted in order to ensure that claims were brought, which may otherwise not
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PGUK attended and supported the Children’s North East Charity event in Newcastle Friday 3rd July. The charity helps over 5,000 children and young people from the North East who are living in poverty or whose lives are disadvantaged because of family misfortune – divorce or separation, redundancy, long-term unemployment, victim of crime, imprisonment, long term ill health, depression or post traumatic stress. The funding helps
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Highlights: Claim: Bank – Personal Guarantee of £15,453 plus interest Security: Not secured Settlement: 24 payments of £400 totalling ££9,600 Background: The Limited company was placed into Creditors Voluntary Liquidation in early 2015. A personal guarantee had been provided by Mr XYZ in respect of the indebtedness of the company.  Demand was made against the guarantor by the Bank in respect of the guarantee.  As
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