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The directors of Pest Ltd agree that the company should borrow a significant sum of money from Shark Bank. Shortly after the loan funds have
The directors of Pest Ltd agree that the company should borrow a significant sum of money from
Shark Bank. Shortly after the loan funds have been received, Pest Ltd fails to meet an interest
payment to Shark Bank and is found to be insolvent. Advise the directors of Pest Ltd whether
they could be personally liable for the debts of the company?
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