25/03/2026
A: Goods that the director has use of, but which belong to the company, such as a company vehicle or a laptop, can be taken control of, but not goods that belong to the director personally.
The only exception to this is when the director has given a guarantee for the company, as this is a legal commitment for the director to pay if the company doesn’t honour the terms agreed, making them personally liable and putting their assets at risk.
Where there is more than one director, they will probably have agreed to joint and several liability, which means that all directors are jointly liable for any company debt, as well as being individually liable.
If a director has personal liability, they must be named within the court proceedings for us to be able to enforce against them.
Visit our website to read more frequently asked questions.
https://zurl.co/4Y8cN