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Ben Jones
Ben Jones, UK Lawyer
Category: Law
Satisfied Customers: 44874
Experience:  Qualified Solicitor - Please start your question with 'For Ben Jones'
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I'm inovlved with company I am trying to disengage with. I was a director, and re

Customer Question

Hi, I'm inovlved with company I am trying to disengage with. I was a director, and resigned some months ago (minuted at a board meeting and updated at companies house). I'd like to know what happens afterwards ... i.e. can I be pursued for any problems that arise subsequently ? or by third parties for documents signed by myself ?
Submitted: 9 months ago.
Category: Law
Expert:  Ben Jones replied 9 months ago.
Hello, my name is***** am a qualified lawyer and it is my pleasure to assist you with your question today. Do you have any specific concerns, anything you believe may come back to you?
Customer: replied 9 months ago.
No - my main concern is that if the company ends up in insolvency/bancruptcy then I might attract claism in a personal capacity
Customer: replied 9 months ago.
In particular - an agreement signed a year ago that effectively assigned a lease to the company (we have a very nasty landlord trying to triple rent) - we have paid that to date though
Customer: replied 9 months ago.
Hi I have to head off now can you send me an email to***@******.*** so we cna continue this another time thx
Expert:  Ben Jones replied 9 months ago.
The reply will be on here but you should get an email advising you when it has come in
Expert:  Ben Jones replied 9 months ago.
Generally, when you resign as a director, this ends your liability against anything that happens after your resignation. So you cannot be held responsible for matters that occur after your resignation. There are circumstances when such liability may continue in the event that you continue to exert influence over the decision of the remaining directors and be viewed as a shadow director but if you just walk away and have no direct dealings with the company that is unlikely. The only other times you may have liability are in insolvency situations. If the company becomes insolvent, the insolvency practitioners can look into past dealings of the company and the conduct of the director going back 3 years. So you could be held liable for things you did (or failed to do) as a director which subsequently led to the company’s insolvency. So if you were negligent in your duties as a director or were guilty of wrongful trading, these are some examples when you could have liability even after you had resigned. A useful article on this topic can be found here and it also has tips on how to minimise the risks of such liability (it may be too late if you have already resigned but it would be useful reference nonetheless): http://www.out-law.com/page-8249 I hope this has answered your query. I would be grateful if you could please take a second to leave a positive rating (3, 4 or 5 stars) as that is an important part of our process and recognises the time I have spent assisting you. If you need me to clarify anything before you go - please get back to me on here and I will assist further as best as I can. Thank you
Expert:  Ben Jones replied 9 months ago.
My full response should be visible on this page. Could you please let me know if it has answered your original question or whether you need me to clarify anything else in relation to this? If your query has been answered I would be grateful if you could please take a second to leave a positive rating, selecting 3, 4 or 5 starts at the top of the page. Thank you

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