Two directors of a distribution company have been disqualified for a combined 10 years after an investigation by the Insolvency Service.
19 August 2016 - Christopher John Mayo and John William Robertson, of Six Counties Distribution Limited (Six Counties) have been disqualified for 6 and 4 years respectively for causing the company to enter into transaction to the benefit of an associated company at the expense of HM Revenue & Customs (HMRC) at a time when they were aware the company was insolvent.
The disqualification of Mr Mayo and Mr Robertson are from 27 July 2016.
Both Mr Mayo (52) and Mr Robertson (51), have given undertakings to the Secretary of State for Business, Innovation & Skills, which prevents them from becoming directly or indirectly involved in the promotion, formation or management of a company for the duration of their bans.
The investigation found that between 23 May 2014 and 2 June 2014, when Mr Mayo and Mr Robertson were aware that Six Counties was insolvent, transferred £103,823 to an associated company at the expense of HMRC.
Furthermore, Mr Mayo made false representations in respect of Six Counties financial position resulting in a material loss to HMRC.
Commenting on the disqualification, Sue Macleod, Chief Investigator at The Insolvency Service, said:
"These disqualifications demonstrate that directors who fail in their obligations and cause creditors to lose money can expect to be investigated by the Insolvency Service and enforcement action taken to remove them from the market place."
Notes to editors
Six Counties Distribution Limited (Company Registration Number 05376015) was incorporated on 25 February 2005. The company traded from Richmond House, Avonmouth Way, Bristol, BS11 8DE; the registered office was 86 Shirehampton Road, Stoke Bishop, Bristol, BS9 2DR.
Christopher John Mayo was a formally appointed director between 25 February 2005 and liquidation. He is from Gloucestershire and his date of birth is 16 December 1963.
John William Robertson was a formally appointed director between 25 February 2005 and liquidation. He is from Monmouthshire and his date of birth is 1 September 1964.
The company went into Liquidation on 2 July 2014. On 6 July 2016 the Secretary of State accepted Disqualification Undertakings from Mr. Mayo and Mr Robertson, effective from 27 July 2016, for periods of 6 and 4 years respectively.
A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot:
- act as a director of a company
- take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership
- be a receiver of a company’s property
In addition that person cannot act as an insolvency practitioner and there are many other restrictions are placed on disqualified directors by other regulations.
Disqualification undertakings are the administrative equivalent of a disqualification order but do not involve court proceedings.
Further information on director disqualifications and restrictions is available. The Insolvency Service administers the insolvency regime, investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they became insolvent. It may also use powers under the Companies Act 1985 to conduct confidential fact-finding investigations into the activities of live limited companies in the UK. In addition, the agency authorises and regulates the insolvency profession, deals with disqualification of directors in corporate failures, assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees, provides banking and investment services for bankruptcy and liquidation estate funds and advises ministers and other government departments on insolvency law and practice.
Further information about the work of the Insolvency Service, and how to complain about financial misconduct, is available.
Contact Press Office
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The Insolvency Service
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Source: Gov.uk (Contains public sector information licensed under the Open Government Licence v3.0.)