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Mike F · 05-17-2009, 12:35 PM

As far as I know, in general the only things directors will be held personally liable for are unpaid remittences for GST, PST (usually), and other source deductions and unpaid employee wages.

The exception to that would be if the director gave a personal guarantee for the debt.

But once again, free advice on the internet is worth what you paid for it, so if it's a large debt, see an established corporate lawyer.

05-17-2009, 12:35 PM	#2
Mike F Franchise Player Join Date: Jul 2003 Location: Djibouti Exp:	As far as I know, in general the only things directors will be held personally liable for are unpaid remittences for GST, PST (usually), and other source deductions and unpaid employee wages. The exception to that would be if the director gave a personal guarantee for the debt. But once again, free advice on the internet is worth what you paid for it, so if it's a large debt, see an established corporate lawyer. Last edited by Mike F; 05-17-2009 at 12:37 PM.