Limited Liability only limits liability

Michael Baigel recently authored an article in the Journal of the Canadian Institute of Quantity Surveyors, on page 28 of the “Construction Economist“. The article dealt with the personal liabilities that company directors should be aware of when their businesses face difficulties. The key issue was that having a limited liability corporation does not limit liabilities solely to the corporation, but that it only limits the personal liabilities of a director arising from the corporation’s conduct. Director’s knowledge of these liabilities will therefore give them the power to cope with them. In all things, knowledge is power.

Michael Baigel in the Construction Economist – Limited Liability only limits liability