Insolvency Service successfully prosecutes company director for breaching insolvency laws
A director of a demolition company has been jailed for 16 months following an investigation by the Insolvency Service.
George Charles Taylor was a director of Amalgamated Demolition Services Ltd which was wound up by the Brighton County Court on 24 April 2006.
A bankruptcy order was made against Taylor on 16 January 2007. He acted as a director of Amalgamated Demolition and Asbestos Services Ltd despite being barred from doing so due to being an undischarged bankrupt.
Taylor informed Amalgamated Demolition Services Ltd’s major customer that the company had a new bank account and asked that payment of over £22,000 for work done by Amalgamated Demolition Services Ltd be paid to the new account.
Taylor also failed to disclose to the official receiver that Amalgamated Demolition Services Ltd had two motor vehicles and an excavator that were subject to hire purchase agreements.
In separate action taken by the official receiver, Taylor undertook not to act as a company director for eight years from 12 June 2008.
Robert Peck, official receiver for Croydon, said: “This case shows the severe consequences awaiting company directors who abuse their position or disregard the insolvency laws in place to protect the public and businesses. The Insolvency Service has robust powers and we do not hesitate to use them as Mr Taylor found out.”
Amalgamated Demolition and Asbestos Services Ltd and Amalgamated Demolition Services Ltd, based in West Sussex, carried out the demolition of buildings, especially those involving asbestos. Amalgamated Demolition Services Ltd owed £142,059 to creditors.