To rely on a personal guarantee,make sure you tell the missus

摘要

The message Banks may face difficulties enforcing personal guarantees. The case In Mahon v FBN Bank (06.06.11) a husband and wife sought to set aside the bank's statutory demands for sums claimed under personal guarantees. Mr Mahon was a residential property developer who conducted his business through Criccieth Homes. He was the sole director of this company and his wife was the secretary and sole shareholder.