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can i pursue a director for money

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bmj | 12:12 Thu 29th Sep 2005 | Business & Finance
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i did work for a limited company and they are going bust but, the parent company that the director ownes is still going strong. can i get money from the other company.
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No - hence the words "limited" - the director's have a limited liability - limited to the share capital.

Unless of course you took out a personal guarantee or a cross company guarantee.

I am afraid you need to contact the receivers and lodge your claim with all the other companies - the only good thing is that the crown (ie inland Revenue) are no longre classed as preferred creditors and have the same rights as you do.

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