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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I signed a personal guarantee with two people - one document

Resolved Question:

I signed a personal guarantee with two people - one document and they were a partnership. One partner is now threatening to issue bankrupcy proceedings against me without the knowledge of the other partner. Is this allowable or do both parties who I signed the PG with have to issue the proceedings?
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you with this.
Does the guarantee say it needs to be called in by both parties or just one please?
Customer: replied 1 year ago.
I'll look at the agreement and revert back
Expert:  Ash replied 1 year ago.
Thanks
Customer: replied 1 year ago.
It refers to the two individuals as 'The Lender'. I've attached the PG document.
Customer: replied 1 year ago.
Hi Alex, did my last message come through?
Expert:  Ash replied 1 year ago.
Who is calling it in?
Customer: replied 1 year ago.
Tarjinder Singh. His brother, Nirmal, has no knowledge of this action.
Expert:  Ash replied 1 year ago.
Thanks. Then no, one party can not just call it in. Both parties must call in the PG
Can I clarify anything for you about this today please?
Alex
Ash and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Hi Alex, thanks for clarifying this. At this stage this is all I wanted to know. Kind regards, Warren