As expected, the government has further extended the temporary protections given to companies by the Corporate Insolvency & Governance Act 2020, by extending the moratorium on serving statutory demands and presenting winding up petitions to 30 June...
Personal guarantees are often requested when starting a business or forming a limited company. They ordinarily mean you promise to pay the business debt should it fall in to financial difficulty be unable to pay.
Our specialist lawyers can support clients when a personal guarantee is enforced by a lender. As legal professionals we can advise you on the implications of your personal guarantee before you sign to ensure you fully understand its terms. We can also become involved if a lender demands repayment under such guarantee to consider the validity of the agreement and any avenues for challenge.
For advice in relation to any aspect of a personal guarantee speak to our legal team on 01616 966 229 or complete an online enquiry form and we will contact you directly to discuss your situation.
Coronavirus Business Interruption Loan Scheme - advice to owners and directors providing personal guarantees - find out more