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Personal Guarantees

Personal Guarantees
  • > Bankruptcy
  • > Individual Voluntary Arrangements

In the current financial climate personal guarantees are commonplace. Lenders will often look for additional security in respect of advances made to companies as part of a security package. This often comes in the form of personal guarantees given by the company’s directors and/or shareholders. These may be a single guarantee or a joint obligation shared by directors.

It is imperative that you understand what you are being asked to sign and what the consequences of a guarantee may be.  We can provide you with such advice at the outset as it is always advisable to obtain this before you sign on the dotted line. It is not uncommon for lenders to insist on such advice before they will accept the guarantee and allow to the company to access the lending facility.

You should fully understand the implications of a guarantee in the event that it is relied on by the lender.

If you have signed a personal guarantee and are concerned about its terms or you are being pursued by a lender we can help in advising on your position and the potential consequences.

It is possible to challenge a personal guarantee in its entirety or the extent of your exposure under it can be limited.  We can advise you in relation to potential ways to avoid liability under a personal guarantee and defending and/or settling on the best terms possible in relation to claim brought by a lender against you.

Please contact Kathryn Maclennan on 01254 268792, kmaclennan@kbl.co.uk or Richard da Roza on 01254 268793, rdaroza@kbl.co.uk

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KBL Solicitors LLP, a Limited Liability Partnership. Registered in England number OC402496 VAT Reg. No. 421 8505 72 Service provided by solicitors of England and Wales Authorised and Regulated by the Solicitors Regulation Authority SRA Number 627254 www.sra.org.uk

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KBL Solicitors Bolton

New Mansion House
63-65 Chorley New Road
Bolton
BL1 4QR

Tel: 01204 527777 Fax: 01204 388940 E: enquiries@kbl.co.uk
KBL Solicitors Blackburn

12 Cunningham Court
Blackburn
BB1 2QX

Tel: 01254 268790
E: enquiries@kbl.co.uk

© KBL Solicitors LLP

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Made in Freshfield

  • Home
  • Business
    • Commercial Litigation
      • Bank & Financial Investment Mis-Selling
      • Business Disputes
      • Construction Disputes
      • Contract / Terms & Conditions
      • Intellectual Property
      • Manufacturing Disputes
      • Mediation
      • Professional Negligence
      • Property Litigation
    • Commercial Property
      • Academy Conversion
      • Acquisitions & Disposals
      • Compulsory Purchase Orders
      • Energy Performance Certificates (EPC’s)
      • Landlord & Tenant Matters
      • Land Tribunal Work
      • Leases
      • Licensed Trade Premises
      • Option Agreements
      • Secured Lending
    • Corporate & Commercial
      • Agency & Distribution Agreements
      • Banking & Lending Services
      • Business Sales & Purchases
      • Commercial Contracts
      • Group & Company Restructures
      • Company Formation & Registrations
      • Joint Ventures
      • Share Options
      • Shareholders’ Agreements
      • Terms & Conditions
    • Employment / HR Support
      • Confidentiality & Post Termination Restrictions
      • Defending & Preventing Harassment Claims
      • Discrimination
      • Employment Contracts
      • HR Advice Service
      • HR Training
      • Policies & Procedures
      • Redundancy
      • Settlement Agreements
      • TUPE / Business Transfers
      • Unfair/Wrongful Dismissal Claims
    • Insolvency
      • Directors Disqualification
  • Personal
    • Divorce & Family Law
      • Child Arrangement Orders
      • Children
      • Civil Partnerships
      • Co-Habitation Agreements
      • Divorce & Your Business
      • Financial Remedy Proceedings
      • Just Living Together
      • Living together – the future
      • Parental Responsibility
      • Pre-Nuptial Agreements
      • The end of a Relationship
    • Employee Rights & Disputes
      • Directors / Senior Executives
      • Discrimination in the Workplace
      • Redundancy Situations
      • Settlement Agreements
      • TUPE for Employees
      • Unfair Dismissal
    • Litigation / Disputes
      • Debt Recovery
      • Financial Services Disputes
      • Professional Negligence
      • Property Disputes
      • Probate Litigation
      • Residential Possession
    • Personal Injury
      • Personal Injury
    • Personal Insolvency
    • Property
      • Buying a house
      • Equity Release
      • Remortgaging
      • Residential Property Disputes
      • Selling a house
    • Wills, Trusts, Tax & Probate
      • Advice for the Elderly Client
      • Court of Protection
      • Inheritance Tax
      • Power of Attorney
      • Probate & Estate Administration
      • Probate Disputes
      • Trust Advice
      • Will Preparation
  • About us
    • Careers at KBL
    • Testimonials
    • Factsheets
  • Meet the Team
  • COVID-19 Support / News
  • Contact us
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Get in touch

T: 01204 527777 T: 01254 268790 E: enquiries@kbl.co.uk
Request callback