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I had the same thought. Can anyone in the UK confirm this would have provided sufficient protection there?

• leoedin 7y ago
  The other cases discussed are plumbing firms which were limited companies. The fact they complain that its a problem because they can't sell on the business or pass it to their children tells you that the liability is with the business, not the individual. That's actually a pretty good situation to be in. Plumbing strikes me as a very easy business to walk away from - just take your contact list with you and you'll be back in business in no time.
• matthewheath 7y ago
  Yes - limited liability would shield the owners of those businesses. A personal guarantee would usually be required for something like a bank loan or a line of credit, but not normally for pensions given there are now state-mandated requirements to provide one.