Hi, so you are clarrifying that if I sign the stand still agreement that has a space for me to sign as a director of the firm and with my individual name then I will not be held personally liable, see the clients e-mail, he seems to think different:
Thank you for your telephone call yesterday.
You are quite right that you are personally joined in this agreement.
This is because you have advised that you no longer have insurance cover.
You also advise that you will be the sole director in two weeks time.
If we were to apply to the court for a protective writ, we would seek to include you in this writ. The standstill agreement seeks to avoid the not insubstantial costs involved in obtaining the writ.
I have had a word with my barrister, and he says that by signing the standstill agreement you will not be admitting any liability for the advice or my losses. The purpose of the agreement is simply to keep the matter open until the agreement is terminated in accordance with its terms. In other words, if it ever becomes necessary to bring the case to court, you will still be able to rely on all the defences and arguments now open to you.