If you are facing pressure having provided personal guarantees on behalf of a business which is struggling, or is likely to struggle, understanding the risk and current situation is crucial. Conducting a thorough review of the relevant paperwork, our expert team can advise on validity, any legal arguments that may affect the enforceability and, in all circumstances, help with reaching a commercial settlement.
It’s very important to understand the circumstances where any personal guarantees were given, as they can have huge implications on the outcome of any legal action. A lot of lenders impose personal guarantees when making changes to existing facilities, or granting new facilities if they think the business will fail, and some personal guarantees may have been entered into due to mis-representations that were made at the time they were set up.
Support and guidance from banking and finance experts
At Kennedys, we take the time to really immerse ourselves in what matters to you, allowing our solicitors to provide a personal level of service that will make a challenging situation as painless as possible.