Re: FN-FORUM: forming a ltd

date posted 16th August 2007 16:05

That has been the case for a very long time. The bank issue is different -
they want their money reagardless! The legal parlance: "a first charge over
the company" - so they get their money after the tax and VAT man (if there's
anything left). If not, the bank can use your house or other convertible
assets.

HTH...

Mike A.

----- Original Message -----
> Hasn't a new law been passed recently, whereby Directors of Ltd companies
> will be responsible for paying companies debts?
>
> The reason for asking, is my bank asked me to sign a form, whereby I am
> personally responsible.