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Advice for asset protection

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    #11
    Originally posted by yusefkerr View Post
    I'm a director of a one-person ltd company with a small turnover, and I've recently been issued with a personal (non-business related) claim for possession of a building I privately rent. I'm planning on defending the claim in court, but there is at least a possibility of being landed with a claim for damages that I've been told could reach "several tens of thousands of pounds". Taking that as a potential scenario, are the assets in my ltd company protected from such a claim, or will the company be seen as something that I may be required to liquidate in order to pay such costs?

    Also, would this ltd company be seen as an asset that I would need to declare with respect to my eligibility for legal aid?
    Just move out of the building you don’t own, rent somewhere else

    What are you not telling us here ?


    Sent from my iPhone using Contractor UK Forum

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      #12
      Originally posted by GhostofTarbera View Post
      What are you not telling us here ?
      This.
      Contrary to LPM1 and others, we don’t live in the USA. People just don’t take others to court for no reason and win easily.

      Why is an individual being taken to court over a privately rented property?
      What is the reason?
      Is there any justification in it?
      …Maybe we ain’t that young anymore

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        #13
        Change country. Go to asia for 5 years!

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