<human>: Hello!

I'm in a spot of legal bother with a business client who's job I couldn't complete to the contracted price. They were not happy that I couldn't honour the initial price but complications arose that would incur significant fees. I offered the client their deposit back on several occasions, but they refused it and demanded that I complete the job as well as pay for the excess work out of my own pocket. I am a student, attempting to earn a living through my first year of studies. I certainly don't have the money to pay for the additional work; the entire job would leave me with less money than when I started.

I should note that this is a digital service; I haven't left someone's house half built.

Because of the way the contract was signed, I fear that I, personally may be liable. 

So, if this goes to court, which their solicitor has threatened, they will try and recoup losses that have occurred because of my inability to finish the job. This is contracted, though I fail to see what these losses could be given that their business isn't even trading yet. The losses are probably mostly legal fees, but their solicitor is urging them to take me to court, obviously. The only person that can win here is the client's solicitor.

Now, for one year I've been a director of another company with a 33% share. It's a web service and we've just signed some deals that will bring in significant amounts of money over the next few months. 

Now, if this rogue client takes me to court, wins and forces that I liquidate my company, or I have to file for personal bankruptcy, I'll be banned from being a company director for two years, minimum, right?

How will this effect my second business? Would it be wise to sell my share of the business to a family member until this has been resolved?

Can you give me the gist of the text in a nutshell?
<bot>: If a Ltd company must liquidate, what happen's to the director's other existing companies? Similarly, if I personally must apply for bankruptcy, what happens to my other existing company?