Court backlash on personal guarantees

At the height of the boom, many of the country’s most prominent businessmen used their assets for personal guarantees – a decision they now bitterly regret

30th January, 2010

It was a boom-time solution to a boom-time problem, and all it required was a simple signature. But now, many of the country’s leading developers and businessmen are beginning to rue the day that they put their names to a personal guarantee.

The list of personal guarantee cases being admitted to the commercial division of the High Court is growing week by week as banks move to protect their loans. At the last...

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