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Calgary, Alberta bankruptcy Q&A forum

Question:

 

Is a director of a limited company liable for the money a limited company owes if that company claims bankruptcy. Thanks


From:

 

Grant Thornton Limited

Date:

 

Mar 02, 2017

Answer:

 

Hello, No, a Director is not liable for all the debts of the company. A Director of a limited company is liable for GST remittances, source deductions for employees and personal guarantees of debts to the company. If you had any other concerns please do not hesitate to contact us at 310-8888.

Susan Methuen
T 403-310-8888
susan.methuen@ca.gt.com

 

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