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Personal guarantee and breach of trust
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New MessagePersonal guarantee and breach of trust (modified 0 times) busworld
I(A) and 3(B+C+D) investors have just setup a business. Investor A & B have signed a personal guarantee with the shop owner for 3 years.

1) If we have decided to stop the business due business is running a lost currently, will A + B liable for the personal guarantee?
A is running 5 restaurant outlets with 1 centralised company. The centralised company is to supply stock to the 5 outlets.
2) Since the stock is supply from A company, there is a price mark up more than 20% compared to retail price without investors knowledge and estimated about $60K /year lost in stock purchase. Due to the high stock costing, we are not earning a profit. Would like to know whether is there any breach of trust from business point of view?

Pls advise

Thank you

27 Aug, 2008 23:39:30

New MessageRE:Personal guarantee and breach of trust (modified 0 times) Sai meng
I had a massive problem with banks and with my creditors in Malaysia. I left in a hurry because the bank and another lender decided to move against me although I was trying to sort out my problems with the help of a Chartered Accountant. I could have resolved my financial problems in an orderly manner had it not been for an ex who worked with the bank who decided they would exercise their rights against me if you know what I mean.
I contacted a lawyer in Australia who has excellent knowledge of bankruptcy and insolvency. he is actually a former Malaysian doing exceptionally well in Australia. I promised him I would pass on his details to others because of the extremely competent way in which he handled my bankruptcy. I am now releived.But I won't be returning to Malaysi for a while.

Our chelup lawyers only charge lot of money but don't provide any service where they must think. They only go by the book.

If you need help ask him:

his website is:http://www.lawcomex.com

Let him know please I sent you.

18 Sep, 2008 10:48:20


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