Republic of Ireland Law
Republic of Ireland Law Questions Answered by Experts
1. I regret to say you were very foolish to sign these guarantees, given you had no ownership interest in the company or the property. However, you can get out of the guarantees by issuing a Revocation of Guarantee and serving these on BWG Foods and Heineken and the other parties you have given guarantees to. The Deed of Revocation of Guarantee should be put together for you by a solicitor and you should get that solicitor to formally write on your behalf to each of the parties to whom you gave a guarantee. It is important that this is done properly as the potential liability on the guarantee is large if it was called upon. You can put together a Deed of Revocation of Guarantee yourself from the internet. However, this runs the risk that it won't be done properly. So, for this reason, I would suggest you get a solicitor to assist you.
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