Debt options for companies from Access Debt Solutions
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Debt options for companies

The business is in difficulty - what are the debt options for companies?

A limited company is a separate legal entity from its directors and shareholders.

A company is deemed to be insolvent when it is unable to pay its debts either as they fall due or where the value of its assets is less than the amount of its liabilities including contingent and prospective liabilities.

Directors owe a duty of care to the company, its shareholders and employee´s; and where there is doubt as to its insolvency, also to creditors.

Generally a director (or someone acting as a director) is not personally liable for the company´s debts. However you can be personably liable for the following:

You will therefore need to be very careful when you are trading if there is any doubt as to the solvency of the company. It is important to get advice if you are in any doubt about this. Access Debt Solutions are experts in this field - for free confidential advise complete our business health check form or call us now on 0800 694 0484.

For further detail on the debt options for companies see:

Or for debt options for sole traders and partnerships click here.