The article which was in Sunday Tribune said that because of the unlimited status the directors were liable if the companies collapse. I appreciate that if Directors had signed personal guarantees this would render them personally liable but this was not mentioned in the article. From my knowledge during the roaring Tiger era Directors would be mainly unwilling to sign guarantees and, in fact, when borrowings were taken in their personal names it was often on a non recourse basis other than the security of the asset bought.