The company liquidator is not automatically your personal adviser

A useful company discussion leaves personal questions unanswered

A hypothetical director meets the appointed liquidator and explains the company's finances. They leave believing their personal guarantees and loan account have also been assessed on their behalf. Clarify the roles. Providing information to an officeholder and obtaining independent advice about personal exposure are different tasks, even where both involve the same company history.

Identify the question you need answered

List the personal documents or demands requiring review, such as a guarantee, tax notice or disputed loan account. Keep them distinct from requests for company books and operational information. Do not assume every question raised in a company meeting has been answered, or that a general explanation of liquidation is tailored advice about your individual position.

Understand the officeholder's role

AFSA's joint guidance states that an appointed liquidator or trustee does not act as your personal adviser; they act for the relevant creditors. The guidance also explains directors' obligations to help a company liquidator. Obtain independent personal advice where needed while continuing to address legitimate information requirements. Seeking advice is not a reason to conceal or delay required company records.

Source: AFSA: Personal bankruptcy and company liquidation

Ask about the engagement clearly

In the hypothetical example, confirm who any lawyer or accountant represents and which matters they have agreed to assess. A person involved in the company process may not have accepted a separate personal engagement. Explain potential differences between company and personal interests so the professional can consider whether separate advice is required.

Coordinate information appropriately

Keep copies of records supplied and advice received, following the relevant advisers' guidance about confidentiality and communications. Do not forward privileged personal advice indiscriminately or withhold company information merely because it is uncomfortable. Ask how to handle a particular document if its status is unclear. Accurate cooperation and independent advice can proceed together.

Track the personal next steps

Record the adviser, scope and required action for each unresolved personal matter. CRP can help organise the business context for those discussions. A clear distinction between roles prevents a company administration meeting from being mistaken for confirmation that the director's separate financial and legal position is safe.