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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31896
Experience:  Over 5 years in practice
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According to my contract I am a director of the company, the

Customer Question

according to my contract I am a director of the company, the company is about to go insolvent, the other direcyors are asking me as an employer to help pay there insurabce even though they have told me they cant pay my wages
Submitted: 2 years ago.
Category: Law
Expert:  Jenny replied 2 years ago.
Hello my name is ***** ***** I am happy to help you today. Are you a companies house director of the Company and how long have you worked there for?
Customer: replied 2 years ago.
its a registered charity and company limited by guarente, I'm the operations manager and mt dontract states for vat puposes I'm a director, its going into voluntary insolvency and they are aking me for directors insurance
Expert:  Jenny replied 2 years ago.
how long have you worked there for?
Customer: replied 2 years ago.
13 years
Expert:  Jenny replied 2 years ago.
Is it a requirement of your contract with them or any other directors agreement that you pay for the insurance? Are you the only director?
Customer: replied 2 years ago.
I'm so scared of losing mt house
Customer: replied 2 years ago.
no the company py that but they have no money
Expert:  Jenny replied 2 years ago.
Are you the only director?
Customer: replied 2 years ago.
no there are 4 other directors
Expert:  Jenny replied 2 years ago.
Are you all being asked to contribute?
Customer: replied 2 years ago.
I'm the employee
Expert:  Jenny replied 2 years ago.
so are you the only one being asked to contribute?
Customer: replied 2 years ago.
2want to 2 not sure
Expert:  Jenny replied 2 years ago.
Are you also a shareholder?
Customer: replied 2 years ago.
what happens when you go into voluntary liquidatiom who does it
Customer: replied 2 years ago.
no
Expert:  Jenny replied 2 years ago.
It would be an independant firm who deal with administration and winding up. Who are the shareholders?
Customer: replied 2 years ago.
its a chariy and company limited by guarentee
Expert:  Jenny replied 2 years ago.
Are you one of the members liable to meet the requirements on winding up of the guarantee?
Customer: replied 2 years ago.
thank you x
not if my contract is teminted
Expert:  Jenny replied 2 years ago.
Do you mean your employment contract ? I think I need to see a copy of this to properly advise you. I can make an offer of additional service.