Check this site out, its all about limted company debts by a firm called NDandP

If you run a limited business or are a director (or know someone who does), then this site is a must to visit, at least if the company is in any difficulties. I say this as these solicitors really look like they could help anyone in trouble. From what I have seen, whilst a director cannot normally be chased, they can get into trouble if the business fails and they have not followed all the rules when running it. In other cases it may fail and they may find themselves in trouble without realising it, as for example, if you try to run the company too long when it is in trouble. It all looks very complicated and I reckon that people in these situations need help. So please tell others.