- within Insolvency/Bankruptcy/Re-Structuring, Tax and Insurance topic(s)
- with Senior Company Executives, HR and Finance and Tax Executives
- with readers working within the Accounting & Consultancy, Automotive and Banking & Credit industries
Ontario bankruptcy and insolvency lawyer Andrew Johnstone explains how personal guarantees function in Ontario and why they play a significant role in commercial lending. A personal guarantee makes an individual, often a business owner, personally responsible for a debt if the company cannot repay it. This gives creditors stronger protection and broader legal options, especially when dealing with newer or smaller businesses. The discussion outlines what a personal guarantee means, how it affects both parties, and why it is widely used in financing arrangements.
In Andrew's practice, he assists secured and unsecured creditors, trustees, and debtors in matters involving bankruptcy petitions, receiverships, debt recovery, and insolvency litigation. He advises clients on their rights and obligations under the Bankruptcy and Insolvency Act and guides them through available restructuring or enforcement remedies.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
[View Source]