Funding Circle

[keithw8007]

I need some help please on a defence against a business loan repayment demand that I can't repay, and FC have issued a claim in the High Court against the business, (an LLP) and it's members - me and my wife.

As the LLP received the money should the LLP not bother defending the claim (it is not currently trading), and so just put a defence in for ourselves on the basis that the personal guarantee they are claiming against was a defective deed not properly witnessed or served.- notably as in the matter of Bibby Financial Services Limited vs Magson and others?

Thanks in advance for any help.

[Amethyst]

Do you have the particulars of claim, copies of the loan agreement and the personal guarantees ?
Were you advised to take independent legal advice before signing personal guarantees?
How much is the claim for ( approximately ) ?
You're an LLP but not currently trading, however not dissolved or liquidated ?
If the claim is against the LLP then yes the LLP should defend ( if appropriate ). Are they actually calling in the PG within the claim or is it just against the LLP ( and it's partners ) - as opposed to against you personally under the PG ?

Bibby would be heavily reliant on the circumstances surrounding the PG so would need a lot more detail of how the PG's were entered into.

FC have been in the news a bit last few weeks with some stockmarket type issues.