UK Michael

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Hi, i am a director of a company, I wish to resign as a director and leave the company. My fellow director and a major share holder wants to continue to run the company. Once I leave the company, am I liable for the future performance of the company? (what happens if they make a mess of running company) and for how long if I remain liable. The company is not in debt other than normal day to day bills.
Can anyone help me? it would be much apppreciated.

 

[Robert Pearce]

Your responsibilities as a director will cease when you resign, as long as you don't continue to act as an unofficial 'shadow' director. You're only responsible (and potentially liable) for things that you did or things that happened whilst you were a director. If the company is solvent and has no existing issues, then you shouldn't have anything to worry about.