Video Q&A with James Conduit – Directors and Coronavirus

This week for our legal Q&A with law firm Sills & Betteridge, your questions are answered by Commercial Partner at the Lincoln office, James Conduit.

01:25

  1. I am the sole shareholder and director of my own limited company and I have no employees. I have heard that there is no help from the government for people like me.  Is that right?

03:00

  1. Can the owner/manager furlough themselves?

03:55

  1. You say “cannot be done through the company”, does that mean they could do it outside of the company.

05:30

  1. Is there nothing that owner/manager companies can do to get help?

06:00

  1. I am worried about the financial position of the company, can I be personally liable at all?

06:43

  1. So what are the potential liabilities to creditors?

08:42

  1. Regarding liabilities to the company, how might they be enforced in the case of an owner/director?

09:26

  1. What are the potential liabilities that they might pursue?

13:02

  1. If someone finds themselves in this position, what should they do?

13:37

  1. The third category you mentioned was regulatory liabilities. Can you give some examples?

15:33

  1. Any final thoughts?