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Written by SM!, on 03-08-2009 21:50 i am also in a similar position to Swain Blue, but the only difference being that i resigned as co director and the company still continued to trade and use up the overdraft. I am now in a position where several months later the company is experiencing financial difficulty and the bank has called in the personal guarantee and are chasing me for the amount,     The current directors have agreed to take on the PG liability away from me and i was wondering whether anyone was aware of any standard agreement that can be put in place between the new directors and myself which can be signed and sent off to the bank.... and then hopefully get them off my back!