Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - What happens when limited company goes into liquidation???and what happens to the director? - If the director didnt sign any document that makes him responsible for any loans or debts that a limited company might have, does companies that he owes money to have a right to take his personal assets?

If the company has closed down and has no more business, does he still need to pay back the debts even though hes incapable of doing so? What happens to the director then? does he need to declare bankruptcy which will then affect his bank status etc?

thanks for all your helps -