Stuart Wright, a director of Opticore Ltd, a telecommunications cabling company that traded from sites in Chorley, Lancashire and Livingston, West Lothian has been disqualified for a further ten years for breaching an existing five-year ban. The disqualification follows an investigation by the Insolvency Service.
Mr Wright, 49, of Willaston, Neston has given an undertaking that he will not act as a director, control or manage a company from 1 April 2013 until April 2023.
Mr Wright was formally appointed a director of Opticore Ltd between 25 February 2005 and 16 August 2006, but continued to act as a shadow director. In January 2007, he was banned from being a director for five years, following his conduct while in control of a separate company, Livtel Ltd (wound up in 2004).
Despite this ban, Mr Wright continued to act as a shadow director for Opticore Ltd, controlling financial operations and handling negotiations for which he was well paid, in clear breach of the undertaking he had signed.
Opticore ceased to trade on 10 June 2011 and entered voluntary liquidation on 5 July 2011 owing over 600,000 to creditors.
Commenting on the disqualification, Robert Clarke, Head of Company Investigations, Birmingham said:
The substantial period of the undertaking in this case clearly shows that those who are disqualified must respect the restrictions placed upon them or they will face a further lengthy ban to protect the public.
Directors are disqualified for good reason to protect the public and the broader business environment. Those who ignore the restrictions placed upon them are seeking to abuse the system and will not be tolerated.