Good morning.
I'd really appreciate a bit of help with the following as they're are some areas causing me confusion that I hope someone might be able to shed some light on.
The Limited company of which I am the sole Director is being sued by a third party with whom I was involved in an accident in October last year.
(without going into too much detail - I was driving along a 30 mph urban side street, the third part attempted to overtake me at speed. At that point a car parked on the left and facing against traffic nudged out of a line of parked cars. I drove around the car. The third party drove off the road to the right to avoid me and apparently collided with some street furniture. He then pursued and threatened me. So there can't have been much wrong with his car).
So, my insurers denied liability. I was awarded a year's no-claims discount. However the renewal in February this year was such that I left them for a more competitive insurer.
I have had contact from my old insurer's lawyers stating that the third party has begun proceedings against my limited company.
The amount they are claiming is almost a 5 figure sum for almost 3 weeks of car rental.
The lawyers instructed by my old insurance company are acting for my Limited Company.
The third party claims to have an independent witness.
My question is this. If in view of the fact that the third party has a witness and I don't, judgement goes against my limited company, would my company also be liable for the cost of the incurred by the lawyers which my insurance appointed....even though I never instructed them to do so.
Secondly, I applied to wind up my company some months ago. This hasn't yet been completed.
If the company is wound up and judgement is entered against it, either before or after it is wound up, is there a situation where the Director's of that limited company can be held personally liable for payment?
I have told the lawyers that an application for the company to be wound up has been entered but has not yet been completed.
Any help gratefully received!
Thank you as always in advance.
I'd really appreciate a bit of help with the following as they're are some areas causing me confusion that I hope someone might be able to shed some light on.
The Limited company of which I am the sole Director is being sued by a third party with whom I was involved in an accident in October last year.
(without going into too much detail - I was driving along a 30 mph urban side street, the third part attempted to overtake me at speed. At that point a car parked on the left and facing against traffic nudged out of a line of parked cars. I drove around the car. The third party drove off the road to the right to avoid me and apparently collided with some street furniture. He then pursued and threatened me. So there can't have been much wrong with his car).
So, my insurers denied liability. I was awarded a year's no-claims discount. However the renewal in February this year was such that I left them for a more competitive insurer.
I have had contact from my old insurer's lawyers stating that the third party has begun proceedings against my limited company.
The amount they are claiming is almost a 5 figure sum for almost 3 weeks of car rental.
The lawyers instructed by my old insurance company are acting for my Limited Company.
The third party claims to have an independent witness.
My question is this. If in view of the fact that the third party has a witness and I don't, judgement goes against my limited company, would my company also be liable for the cost of the incurred by the lawyers which my insurance appointed....even though I never instructed them to do so.
Secondly, I applied to wind up my company some months ago. This hasn't yet been completed.
If the company is wound up and judgement is entered against it, either before or after it is wound up, is there a situation where the Director's of that limited company can be held personally liable for payment?
I have told the lawyers that an application for the company to be wound up has been entered but has not yet been completed.
Any help gratefully received!
Thank you as always in advance.
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