eans that in general, the company is the first "person" to have the liabilities. The agents of a company (directors and employees) are not usually liable for obligations, unless specifically assumed.[17

Companies are legal persons, created by registering a constitution and paying a fee, at Companies House. Like a natural person, a company ca...

nterest groups.[15] Invariably the shareholders, directors and employees' liability is limited to the

Corporate insolvencies happen because companies become excessively indebted. Under UK law, a company is a separate legal person from the peo...