Roger Dyson, director of Roger Dyson (U.K.) Limited which was involved in the construction of recovery vehicles, has been banned from being a director for five years at the High Court in Birmingham for benefiting himself ahead of other creditors, after his company went into liquidation. The disqualification follows an investigation by the Insolvency Service.
On 1 December 2008, two months before Worcester-based Roger Dyson (U.K.) Limited entered liquidation, Mr Dyson repaid himself 500,000 from the company and ahead of other creditors, for an unsecured loan he had made to the company in July 2008,.
The disqualification means that Mr Dyson, 62, cannot act as a director, control or manage a company until 2018.
The court heard that in July 2008 Mr Dyson made an unsecured loan to the company of some 500,000. On 1 December 2008, he repaid himself ahead of other creditors, thereby increasing the companys overdraft to nearly 1million.
The company ceased to trade on or around 14 January 2009 and went into voluntary liquidation on 4 February 2009, with losses of more than 1.3m.
Commenting on the disqualification, Robert Clarke, Head of Company Investigations in Birmingham said:
Directors who put themselves ahead of other creditors when its clear their company is about to fail, show total disregard for suppliers and the business community generally.
The disqualification order made in this case sends a clear message to other company directors that if they run a business in a way that is detrimental to either its customers or its creditors, they will be investigated by the Insolvency Service and removed from the business environment for a long time.