The guaranteed commitment of the leader to society
The leader is one of the main financial backers of a company. At its inception, when it assumes the status of partner, he makes essential contributions to the startup of the corporation. Thereafter, he may have to act as surety for any loans made by the company, as part of a developmental strategy for the company. Finally, in case of failure of the company, especially during bankruptcy proceedings, the officer may be required to pay off the creditors.
The guarantee commitment is not a trivial matter but the impact on personal assets may be far more important than originally imagined. Therefore, the protection of the officer is required at the stage of creation of the company but also the bond once operated by the bank.
The weight of a bond on the person is variable depending on the shape of society. A partner (CNS) is indefinitely liable for the debts of the company on his personal wealth. By contrast, the so-called limited liability, such as SAS or SARL companies, is confined to the amount contributed.
The leader, a knowledgeable bail?
The concept of security is fundamental warned that it allows to determine the liability on the bank during the underwriting commitment deposit.
Any business executive is assumed to be a bond notified, that is to say, be able to assess the risks involved in having sufficient about the prospects for profitability of the operation warranty information.
Otherwise, the personal deposit will be considered profane and must be cautioned by the banker due to the risk of commitment.
If leaders are presumed to be aware of the hazards of said business and the danger of a bond, they may in some situations be considered liable for breach of the banker's duty of information.
The inability to rely on a disproportionate bond
The Consumer Code has strengthened the protection of deposits by providing the inability of a bank to rely on a guaranteed contract drafted by a single person, when his commitment was clearly disproportionate to assets and income. The deposit is then released from its commitment unless its heritage allows it to meet its obligation when it is called for payment.
Reporting evidence of a disproportionate commitment is a subtle exercise, for which recourse to a financial banking attorney would make sense. He will have the know-how to defend your interests and to make up against the bond.
Moreover, it is not uncommon to face several guarantees, especially between partners or in a case of co-management. Therefore, the occurrence of a conflict between partners may pose the bond on one of them only when another totally abandons the company and its commitments. Acting at the slightest signs of conflict with said attorney is the best solution to deal with any additional financial risks.