Director accepts 11 year undertaking for attempting to deceive court with false statements and sham*documents.
On 12 September 2017 the Secretary of State for Business, Energy and Industrial Strategy accepted a disqualification undertaking from Mr Costel Titu, former director of Titus Services 4 UK Ltd (Titus), for making false representations to the Court and the company?s liquidator. Mr Titu?s disqualification commenced on 3 October 2017 and will end on 2 October 2028.
Mr Titu attempted to undermine the validity of the appointment of Ms F Qureshi as Creditors? Voluntary Liquidator by falsely claiming that he was not a director or shareholder at the time of the liquidator?s appointment.
This was in an attempt to stop recovery proceedings issued by the liquidator against Mr Titu and another, relating to various payments made by Titus to them and for cash withdrawals. The total amount claimed by the liquidator was ?156,875.
Mr Titu attempted to undermine the validity of the liquidator?s appointment by falsely stating that he had no authority to appoint her as liquidator with the intended consequence of stopping the liquidator from pursuing him for amounts recoverable to the company.
On 5 May 2017, a final hearing in respect of the liquidator?s action was heard at Companies Court which found in favour of the liquidator and considered that the transaction complained of was a sham and that Mr Titu had attempted to mislead the liquidator and the Court into believing that he was not the sole director of Titus.
On 14 July 2016 notice of termination of Mr Titu?s directorship of Titus was filed at Companies House, with an effective date of 18 August 2014. The company has been in liquidation since 22 October 2014.
Anthony Hannon, Official Receiver in the Public Interest Unit, said:
The Insolvency Service will look closely at any evidence of misconduct and take appropriate action where directors have attempted to mislead insolvency professionals and the Court, as has happened in this case.