Steven Clifford Wilkinson will be bound by bankruptcy restrictions for ten years having failed to disclose income and the existence of three bank*accounts.
An Insolvency Service investigation found Mr Wilkinson, formerly of Brighton and Polegate in Sussex, failed to disclose income of ?180,964 during the 12 months in which he was subject to bankruptcy, and the existence of three bank accounts that he held at the date of his bankruptcy.
Mr Wilkinson gave an undertaking to the Secretary of State for Business, Energy, & Industrial Strategy, to be bound for 10 years, by the restrictions until 4 October 2027. In addition, he cannot manage or control a company during this period without leave of the court.
The undisclosed income and bank accounts came to light during the Official Receiver?s investigation into Warlord Productions Ltd, a company with which Mr Wilkinson had some involvement. The company was wound up by the High Court in July 2015 on a petition presented by the Secretary of State in the public interest.
In April 2012 Mr Wilkinson entered into an Individual Voluntary Arrangement (IVA). The arrangement failed and so the IVA supervisor presented a petition for his bankruptcy. The bankruptcy order was made in the County Court at Brighton on 1 February 2013.
The deficiency to creditors was ?5,172,044.
At the date of the bankruptcy order, Mr Wilkinson was in receipt of Jobseekers Allowance, but that ceased shortly afterwards and during the 12 months of bankruptcy he received income totaling ?180,964. Because the income and bank accounts were not disclosed by Mr Wilkinson, the creditors have been deprived of a possible return of some money.
Commenting on this case Anthony Hannon, Official Receiver in the Public Interest Unit, said:
Mr Wilkinson attended on the Official Receiver shortly after the making of the bankruptcy order and was made aware of his duty to disclose all his assets. He disclosed the existence of a single bank current account, but failed to disclose three further ?wealth accounts? held at the bank.
He was also made aware of his duty to disclose full details of his income during the 12 months that he would be subject to the restrictions of bankruptcy. This duty exists so that the Official Receiver or trustee can decide whether to claim some of the income over and above what is needed for the bankrupt?s living expenses for the benefit of creditors.
This ten years restriction should act as a deterrent to him and others from acting in the same way.