Co-director
Another director of the same company. Liability is not automatically shared equally; it depends on the obligation, conduct and documents involved.
Related terms
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Former director
A person who previously served as a company director. Resigning does not automatically remove liability for obligations or conduct arising during their time in office.
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Insolvent trading
A broad expression for continuing to trade while financially insolvent. The legal consequences depend on the director’s conduct and the specific statutory rules involved.
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Corporate liability
A debt or legal obligation owed by a company in its own name, rather than automatically by its directors or shareholders personally.
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