Did You Know You Signed A 'Personal Guarantee' Yesterday ?

In a landmark case yesterday in the High Court, Mr Justice Mann said the Taxpayer had to stand as a guarantor for £22Bn in case British Telecom went bust because of the underfunded pension scheme.

I have signed some of these accursed instruments as a Director before, but at least the financial institution gave me the option of seeking legal advice first before I signed.

Here , the Judge has done it the other way round he has told us we are now the guarantors. Well I don't I have been given the required notice or consulted my lawyers yer as to whether I should stand surety for BT, so I think I will pass.

This ruling also applies in principle to the Post Office, the Civil Service and Local Authority Pension funds .