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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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Is a 100% share holder liable for any debt the ltd company

Resolved Question:

Is a 100% share holder liable for any debt the ltd company has.
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts : Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return You do not need to wait here as you will get an email when I reply.
Alex Watts : No, not unless there is a personal guarantee
Alex Watts : Can I clarify anything for you about this today please?
Customer: I am the share holder but want to remove the director with immediate effect .there is no employment contract or service contract she became director I became share holder.she is running the company very poorly so I want to remove her but I know I have to hold a board meeting etc under 2006 168 law but want to stop her from working on Tuesday can i put another director on the company and give him all the powers of the day to day running of the company and her nothing until I hold the board meeting and remove her from directorship
Customer: thanks jon
Alex Watts : Of course.
Alex Watts : You as shareholder suspend the director and then take action.
Alex Watts : Does this clarify?
Customer: Can I just suspend the director.how best do that
Alex Watts :

You need to check the articles and memorandum to see if you have power.

Alex Watts :

Does that help?

Ash and other Law Specialists are ready to help you