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Understanding Company Limited Liability and Insolvency - Read our latest post at the link below. The principle of limited liability underpins the corporate structure and benefit of running a business within a limited company. It can provide directors and shareholders with personal protection from business liabilities. This concept is pivotal for business owners seeking to safeguard their personal assets while growing a business. Although limited liability provides a sound starting point to distance the individuals from risk there are circumstances where the liabilities of the company, and claims deriving from the company, can be pursued against them personally. It is particularly important for the directors to understand the circumstances in which liability extends beyond the company in order to limit their exposure to personal financial risk. Whiteoak Morris is an insolvency practise licensed by the Institute of Chartered Accountants in England and Wales (ICAEW). Call us today for free and confidential initial professional advice.