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Am I liable for a companies debt once it has been dissolved? |
Submitted on: 10th Oct 2011 by Non-Member | Total Answers: 5
I was previously a director of a limited company it was dissolved over a year ago. There was a company bank account set up at the time. The account balance was apparently overdrawn slightly and I have just received a call from the bank asking for the repayment of the overdrawn amount plus a huge fine that has been building up in the mean time. My question is am I liable for this money as the company no longer exists and if so do I have to pay this huge fine as well as I had no idea that it was building up?
Any advice would be greatly appreciated
Thanks
Re: Am I liable for a companies debt once it has been dissolved?
If the bank account was in the name of the limited company then you should not be liable for any debt owed to the bank, providing you haven’t personally guaranteed the debt.
Re: Am I liable for a companies debt once it has been dissolved?
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