If a company becomes insolvent and goes into liquidation, a director may be deemed personally liable for ‘wrongful trading’. The only defence to wrongful trading is if you can show that you took every action possible to minimise the potential loss to the company’s creditors. This makes it essential that as a director you have properly documented all the steps when your company faces the threat of insolvency. Altion Law has experience of representing directors when their interests are different from the company, or where proceedings have been threatened or taken against them personally.
Altion Law are specialists at advising and representing parties who have issues with Wrongful Trading and/or Directors Liabilities. If you would like to have a confidential discussion with a member of our team, if you complete our contact us form, we will call you back at a time that is suitable for you or you can contact us directly on 01908 414990.