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Hello my name is ***** ***** I will help you with this.
When you say I do you mean the Limited company or you personally please?
Thank you Alex,
In which part, I am the sole director of the limited company so I guess I'm asking as both parties am I liable to pay anything should I wind up the company?
But does the lease say you have a personal guarantee?
Could that also be called a surety?
Does it say anywhere you can be personally liable?
In that case yes, I have signed a surety statement
Ok - its bad news then.
You are personally liable for any arrears and the remaining term.
The Landlord should mitigate his loss by getting another tenant
But you are liable for the arrears and term remaining
Can I clarify anything for you about this today please?
Should they have informed me that I should take legal advice before signing the contract?
That is only for loans.
I assume you read it before you signed it?
Probably more fool me that it was all set up in about 10 minutes
Do you know where I stand on things such as business rates to the local authority for the business?
Those you wont be personally liable for or any other debts as long as there is not a personal guarantee
Does this help?
It does, thank you verymuch
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