Nathan David Paul OCallaghan (Mr OCallaghan), a director of Steelmen Security Ltd (Steelmen), has been disqualified for 11 years for acting as a director of a limited company while an un-discharged bankrupt and already subject to a disqualification order. In addition, Mr O Callaghan and his two co-directors have been disqualified for trading to the detriment of HM Revenue & Customs (HMRC).
The disqualifications follow an investigation by the Insolvency Service.
Mr OCallaghans co-directors Samantha Jane OCallaghan (Mrs OCallaghan) and Stuart Roger Prior (Mr Prior), the only registered director, have each been disqualified for three-and-a-half years for trading to the detriment of HMRC.
Commenting on the disqualification, Sue Macleod, Chief Investigator at The Insolvency Service, said:
This is a case where there were not just one but two individuals acting as directors and failing to register the fact. This result should act as a message that reacting to a ban purely by failing to register your latest directorship is unacceptable and has consequences.
Mr OCallaghan (33) has given an undertaking to the Secretary of State for Business, Innovation & Skills, which prevents him from becoming directly or indirectly involved in the promotion, formation or management of a company for 11 years from 20 February 2014. Mrs OCallaghan (36) and Mr Prior (67) have each given undertakings for three and a half years from 24 February 2014 and 19 February 2014 respectively.
The investigation showed that Mr. OCallaghan was made personally bankrupt in September 2008, from which he remains undischarged, and a disqualification order was made against him in October 2009 prohibiting him from being a director for three and a half years. Despite knowledge of the restrictions he was subject to, he continued to act as a director of Steelmen without leave of the court, which was a breach of the restrictions.
The investigation also showed that from 18 June 2010, Mr OCallaghan, Mrs OCallaghan and Mr Prior caused or allowed the company to trade to the detriment of HMRC, resulting in additional losses to them of 176,882 at liquidation.