To cut a long story short, I was a director on a business up until last October...my partner and I were seperating so I wanted out. I only held the nominal 1% shareholder because it was really my partner's business and a second person was needed to establish a limited company.
He has just informed me that the co will be going into liquidation v soon and that i might be hit by the revenue as well as other creditors because I was a director up until recently.
Is this true?! I am in shock and scared stiff as i thought that since he'd taken my name off as a director i would not have any liabilities regarding his company.
Help!
He has just informed me that the co will be going into liquidation v soon and that i might be hit by the revenue as well as other creditors because I was a director up until recently.
Is this true?! I am in shock and scared stiff as i thought that since he'd taken my name off as a director i would not have any liabilities regarding his company.
Help!