Absolutely! There are a number of actions that can be taken to save the business and avoid the personal liability.
But the opposite is also true – if you do nothing then a director is far more likely to face the prospect of personal liability.
Don’t worry! At Dissolve we provide free advice. Contact us and we will be happy to discuss your situation.
At Dissolve we are experienced in providing a range of solutions. We’ve listed a few below. But there are a whole range of possibilities.
Saving your company and avoiding personal liability through a Voluntary Administration.
Restructure the company which could involve reducing costs or implementing asset protection strategies.
Sometimes we liquidate the company or sale of the business to better protect the director.
Yes that’s understandable. It’s a complicated area. In fact, we’d say you are unlikely to be able to understand all of the issues yourself. You will need advice from an insolvency expert.