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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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Customer Question

I invested in a business as 25% shareholder with 100k investment , do not have any dealings with day / day business running.  If they have been individually charged personal names and I 'just' as a director of the company (althoughy same charges are on summons)will I get tried same as them ? If I have no day - day dealings and found not guilty of my involvement , will I still be personally liable for the costs / removal waste if the other 2 are found guilty ? they say I am liable OR will I be liable for my investment which was 100k for 25% Shares. We have creditors who need paying due to not trading yet , it has become very difficult with me / them and although my statement states no involvement (as does there's) if found guilty will I have to lose everything as im the only director with assets , my other business is limited , however property in my sole name ? I have asked for exit strategy several times, they tell me its illegal for them to put a proposal to me regarding paying me back and buying shares back as debts // creditors need paying first , illegale for director before them ,is it ? I have*****case queries / board room exit stratgety . If im NOT guilty as tried as individuals , and they are guilty , what would be my duties / personal responsibilities? if not guity as individual and director , would I still have to renove the waste , if not guity and abuse of process is success wont go to trial and we have compensation claim to process. Can this be PRIVATE communication if a solicitor picks up please . thanks

Submitted: 3 years ago.
Category: Law