Hello, my name is***** am a qualified lawyer and I will be assisting you with your question today.
Is the claim against you personally or the company?
If the claim is made against the company then as a limited company it will have its own legal liability and you will not be personally responsible for its debts. So the company will have to meet its own liabilities and if it is found guilty it will be responsible for paying any compensation out of its assets. If there are no money or assets left then the company could simply close down or become insolvent and it is unlikely that the claimant will get anything of what he is due. He will simply become a creditor of the company and get a proportion of what is left, which is distributed in a strict order. If there is nothing left then he gets nothing so making a claim does not in any way guarantee that he will get any sort of compensation.
So you can either consider closing the company now if it is feasible or just defend the claim and hope it either does not succeed or if it does – remembering that if there is no money or assets he will unlikely get anything anyway.
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you are most welcome