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Personal Guarantees- a true story

Below is a post reproduced with the kind permission of our good friend, and skilled adviser, Stuart Craig from 888x.

I would like to share with you case study #7 which is a follow on from Transport Distress case study #1. This case study #7 relates to a supplier of the company in liquidation pursuing the director for a purported personal guarantee and lodging a cavaet on the directors house.

I had a view on day one of our engagement about the validity of the personal guarantee which was subsequently verified and confirmed by Bruce Pasetti from Stratos Legal. Tactically, Bruce recommended a course of action which was ultimately successful and the supplier was compelled to withdraw the caveat.

One of the keys to any successful assignment is recognising that the detail is important so taking the time to prepare a comprehensive chronology and to undertake a thorough security review is worthwhile.

888X provides cashflow and profitability advice and assistance to directors from both a growth and distress perspective. We work with professionals like you to achieve the best possible outcomes for your clients which can include very challenging circumstances.

We turn those leads into jobs for practitioners and as shown in this case study, can support and assist directors or yourselves commercially in varying circumstances.


Stuart Craig
M: 0418 882 918