Limited liability (Ltd) means that the liabilities af the company are limited to the assets (including capital) of the company. Directors should have no personal liability unless either
a. They individually or jointly signed 'personal guarantees' for specific debts/suppliers.
or
b. They acted fraudulently (e.g. continuing to trade/seek credit while insolvent / or knowing they could not meet their obligations.)
Limited liability (Ltd) means that the liabilities af the company are limited to the assets (including capital) of the company. Directors should have no personal liability unless either
a. They individually or jointly signed 'personal guarantees' for specific debts/suppliers.
or
b. They acted fraudulently (e.g. continuing to trade/seek credit while insolvent / or knowing they could not meet their obligations.)
This protection was diluted by revisions to the Companies Acts in recent years. Get professional legal advice if your query relates to a real-life situation.
ps Any chance of editing this thread to give it a meaningful title?