“PERSONAL RESPONSIBILITY OF COMPANY DIRECTORS WHO BECOME A GUARANTOR”

The bank gives a loan to an LLC that has not been approved as a Legal Entity by the Minister of Justice. However, in the Notary Deed, which contains the Guaranteed Debt, it is stated that the debtor acts as a person and the Director of the LLC responsible for paying off the credit. Several years later, the LLC was approved as a Legal Entity while the credit was bad. THE EXISTENCE OF AN APPROVAL AS A LEGAL ENTITY DOES NOT MEAN THE REMOVAL OF THE LLC DIRECTORS’ PERSONAL RESPONSIBILITY TO PAY THEIR DEBT because the responsibility for personal settlement has been agreed upon in the notarial deed that has been agreed upon.

→ Supreme Court Decision No. 520 K/Pdt/1996, dated 6 May 1997.

Best regards,

Fredrik J. Pinakunary