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We both signed indentures and debentures for both companies.

 
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  • Answered by:Ronan
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Customer Question

We both signed indentures and debentures for both companies. there may be a personal guarantee signed, anyhow, on both companies we are both 50% sharholders in the limited companies. if my husband has signed personal guarantees against the assets but i personally have not, is my 50% stake in the asssets of the company liable to be sold by the bank under his personal guarantee if it does exist.

Submitted: 322 days ago.
Category: Republic of Ireland Law
Value: 25 €
Status: CLOSED

Accepted Answer

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Expert:  Ronan replied 321 days and 17 hours ago.


Ronan : If the company is insolvent and the money cannot be repaid by the company to the Bank. The bank will seek to liquidate the company sell all assets. Your 50% share in the company will be gone at this point. The will the seek to pursue the balance money owed by going after the personal guarantors.
Ronan : The good news is that if you have not signed a personal guarantee your liability is limited to the money you have invested only

Expert TypeSolicitor
Category: Republic of Ireland Law
Pos. Feedback: 95.7 %
Accepts: 1746
Answered: 6/27/2012

Experience: B. Corp Law, Ll.B. Dip Comm Prop. In general practice for more then 6 years

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