WARDELLS DESIGN LIMITED AND CAMP PARTNERS LIMITED WOUND UP IN THE PUBLIC INTEREST
On 4 December 2020 Wardells Design Limited and Camp Partners Limited were wound up in the public interest, having come to the attention of the insolvency Service through the investigation of associated companies.
The insolvency Service have the power, with the court to wound up companies in the interest of the public (they do not have to be insolvent).
The Company received £600,000 from investors, but all of the funds were removed from the companies’ bank accounts.
The two companies were wound up by the court on the grounds they had been incorporated or used as vehicles for fraud with their sole purpose being to receive monies wrongly obtained as investments from members of the public.
Read the full press release here >
MARKETING BOSS BANNED AFTER MAKING MORE THAN 75,000 NUISANCE CALLS
Elia Bols (32) now living in Australia, was director of AMS Marketing Limited, a telephone marketing company incorporated in January 2016.
The Telephone Preference Service (TPS), received 71 complaints and the nformation Commissioners Office (ICO) received a further 32 complaints for unsolicited call.
The ICO informed Elia Bols that a fine of £100,000 would be issued, but the company was wound-up in the courts with the fine outstanding. Further joint investigations and action against the director resulted in Elia Bols being disqualified for 6 years from acting as a director or directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company.
As of the 26 November 2020 , Andy Curry, Head of Investigations at the ICO said:"Our work with the Insolvency Service has seen the successful disqualification of 17 directors who have shut their business down to try and avoid paying a fine for illegal marketing activity".
Read the full press release from the Insolvency Service here >
Closing a business does not necessarily negate the responsibilities and duties of directors. Directors often think we as Insolvency Practitioners have a magic wand, but Directors should seek professional advice, and be mindful action against them as directors may be taken for wrong doing, even when a company has been wound up or dissolved.
SHAREHOLDERS OF OUR PRICE RECORDS LTD DUPED OF £3.5 MILLION
Directors of online affiliate marketing company, Our Price Records Ltd, raised funds of £3.5 million from shareholders under false pretences and breached financial regulations.
In 2017 the Company entered into Administration and further investigations by the Insolvency Service revealed the Company breached financial regulations.
The two company directors who provided prospective shareholders with false information to secure millions in investments have been banned for a total of 17 years. Lee Anthony Skinner (60) has been banned for 10 years, while Karen Ferreira (60) has been disqualified for 7 years.
Full details of the disqualification can be found here >
FLEXITELL LIMITED DIRECTORS DISQUALIFIED FOR FAILURE TO KEEP PROPER ACCOUNT RECORDS AND PAY TAX
Husband and wife, Paula Kelly (55) and Paul Anthony Kelly (58) are both banned from acting as directors of a company or directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company.
Directors of Flexitell Limited which managed several nightclubs and pubs in Blackpool under the trading name Ma Kelly’s, prior to administration have been handed a 7 year directors disqualification.
Directors had not maintained or preserved accounting records throughout the life of the company. This meant the directors could not explain or verify the business turnover, the tax owed or directors loan accounts. It is a serious offence not to keep proper accounting records.
Read the full press article from the insolvency service here >
Construction boss banned for failing to pay health & safety fines
Michael Allen, 64 of Ashbourne, Derbyshire, was a director of Allen and Hunt Construction Engineers Limited, a specialist company in manufacturing and erecting steel-framed agricultural and industrial buildings.
The boss, Michael Allen, was banned for failing to pay health & safety fines after a worker fell and suffered life changing injuries. Michael Allen pleaded guilty to breaching three counts of the working at heights regulations and was fined £274,671 in November 2016, the Company later went into liquidation in December 2016 allegedly unable to pay the fines. Albeit investigates showed... Read more>
If you are considering liquidating a company due to fines, or are unable to pay fines. Contact LM Insolvency and Advisory Limited for a FREE consultation on your options and fiduciary duties as a director.
Lengthy disqualification for director with a string of charity failures
The director of a professional fundraising company has been disqualified for misleading the public and holding on to funds collected on behalf of charities.
Christopher John Stoddard, 68, from Ross on Wye, Herefordshire, was the director of CS Fundraising Limited (CSF). The company to cease trading in November 2014 and on 19 December 2014 the company was placed into creditor’s voluntary liquidation (CVL).
Following an investigation by the Insolvency Service, the director admitted to offences including soliciting money contrary to laws governing charities, misleading the public and retaining public donations of at least £125,634. More importantly this was the ninth company that the director had been involved with, which had entered formal insolvency proceedings.
As a result, the directors disqualification ban will prevent him from directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company or limited liability partnership, for nine and a half years. Read the full article>
For advice on creditors voluntary liquidations and directors fiduciary duties, contact LM Insolvency & Advisory Limited for a FREE consultation on Tel: 07972928153 or email: email@example.com