When we hear the word ‘company’, we all think we know what the person is talking about. We deal with companies every day. Most of us work for a company, and we certainly buy things from them. But companies are actually a strange thing. Let’s start with a bit of a history lesson.
Have you thought about what would happen to your company if you became incapacitated, or worse, if you died? Who would pay the bills, and enforce the company’s rights?
The personal consequences of insolvency for directors continue to deepen. Set out in this article are some indicators of when you should be taking advice on your potential exposures.