12 - Personal Guarantees

Understanding Personal Guarantees for Company Directors: Lessons from the TW Timber Case In this episode of Business Knowhow, host Melissa Bush, a lawyer with over 30 years of experience, discusses the intricacies of personal guarantees for company directors. Using the recent court case TW Timber Treatment Proprietary Limited vs. Giddings as an example, she highlights the risks directors face when personal guarantees are misunderstood or poorly drafted in contracts. The episode provides actionable insights on how to protect oneself from personal liability by being clear about the capacity in which one is signing, carefully reading documents, and seeking legal advice.

00:00 Introduction to Business Knowhow

01:02 Understanding Personal Guarantees

03:12 Case Study: TW Timber Treatment vs. Giddings

07:21 Key Takeaways for Directors

09:50 Conclusion and Final Thoughts