Author: IQnewswire

If a business enters company liquidation, the company itself is usually responsible for its debts. During the liquidation process, company assets are sold and the proceeds are distributed among creditors according to legal priority rules. Directors and shareholders are generally protected by limited liability, meaning their personal assets are separate from company obligations. However, personal guarantees, wrongful trading, fraud, or breaches of legal duties can create personal liability. Understanding who is responsible for company debts in liquidation is important for business owners, directors, and shareholders. Many companies seek professional guidance from HA Group and other business advisory firms to understand…