Guarantee of the shareholder and the corporate director for the debts of a limited liability company
Abstract
The present paper deals with the possibilities of a creditor to break the property independence of a limited liability company and to enforce an enforceable claim against a former partner. The options are described using a specific example from practice, where the sole shareholder and also the managing director transferred his 100% share to a so-called white horse before the conclusion of the court proceedings by which the creditor was awarded the claim.
For example, a creditor may claim statutory liability of a managing director (even a former managing director) for breach of due care or statutory liability arising as a result of influence on the company. But does the creditor have a real opportunity to bear the burden of proof in these cases? The paper discusses the various options for obtaining payment of a claim, in particular the effectiveness of each option is assessed.