Limited Companies don’t offer the protection they used to   During the course of a year some 500,000 new businesses are likely to launch in the UK and a large proportion of the budding entrepreneurs behind these businesses will be advised by their professional advisors to run their business through a limited company. These advisers will have in mind that about four of every ten new businesses die within 5 years and that “death” can take the form of an insolvency. The limited company structure has historically meant that in the event of failure at least the entrepreneur’s house and...

Next month Tourmalet Consulting moves onto its fourteenth year of trading with plenty of activity to report. One clear theme that is emerging is the continued blurring of the line between personal and corporate liability. We are currently handing a large case where HMRC are seeking to impose personal liability on our director client and pointing to new retrospective legislation that they claim gives them power to do this. We disagree. Lenders to corporates are pushing harder and harder for ever wider personal guarantee commitments. We are currently challenging a whole range of personal guarantee claims – very few lenders...

News Update We continue to be very busy with a rich mix of instructions. Currently we are:- Working on a large corporate finance deal with an international element Advising on a while range of personal guarantee claims Working with a cutting edge social media firm Working on a third party costs claim Trying to resolve a dispute over a Cyprus property Working in a minority shareholder claim Advising on a failed film scheme   And on and on. Life is not dull. We offer unrivaled consultancy experience!