Phillip Keith Hearne has been disqualified as a company for disposing of assets to the disadvantage of company creditors, while a director of PKH Salvage Solutions Ltd.
Mr Hearnes disqualification follows an investigation by the Insolvency Service into PKH Salvage Solutions Ltd, a soft stripping and demolition business trading from Bridgend.
Mr Hearne (54) of Bridgend gave a 7 year Directors Disqualification Undertaking on 23 July 2015 to the Secretary of State for Business, Innovation & Skills, for 7 years, which means he cannot manage or control a company for the duration of his ban.
The Insolvency Service investigation found that between 15 November 2013 and 23 December 2013, Mr Hearne entered into transactions totalling 71,000, to the detriment of PKH Salvage Solutions Ltds creditors and to his personal benefit.
Sue MacLeod, Chief Investigator of the Insolvency Service, commented:
In investigating insolvent companies, the Insolvency Service always looks very closely at individuals who demonstrate a disregard for creditors and takes appropriate action where wrongdoing is uncovered.