Certain activities can see company directors held liable for the debts of a company, and in the worst case scenario this can mean a company liquidation results in your personal bankruptcy.
Are you aware that the following activities could see you held liable for the debts of your company?
- Offering a personal guarantee on debts that relate to your company
- Trading while the company is insolvent
- Loss of employee entitlements
- Outstanding tax and unpaid superannuation contributions
This is an area where you need to know exactly where you stand financially. Do not risk your personal finances with a simple mistake.
Call Insolvency Choice today for information on your potential personal exposure.