Hi all,
The company that I'm about to incorporate with my business partner is about to sign a long term lease on a city centre property..
I remember from my college days something about "specific performance" in relation to the rent / lease payments.
Basically, what I'm asking is , that is things go pear-shaped, and we decide to wind up the business / company,
Are the directors liable personally for the rent etc in the unit?, or could the company be pursed for the rent payments etc, (There is only one break clause in the agreement (year 10))
Not sure if I'm conveying my issue correctly here but hopefully the above makes sense!
Any help would be great, thanks,
Edward
The company that I'm about to incorporate with my business partner is about to sign a long term lease on a city centre property..
I remember from my college days something about "specific performance" in relation to the rent / lease payments.
Basically, what I'm asking is , that is things go pear-shaped, and we decide to wind up the business / company,
Are the directors liable personally for the rent etc in the unit?, or could the company be pursed for the rent payments etc, (There is only one break clause in the agreement (year 10))
Not sure if I'm conveying my issue correctly here but hopefully the above makes sense!
Any help would be great, thanks,
Edward