Malcolm Frederick Thorpe, the Managing Director of CTL European Ltd, has been disqualified for 7 years for raising 326 false or duplicate invoices over two separate periods which were submitted to the factoring company and caused losses to them of at least ?124,670.
Mr Thorpe of Brigg, North Lincolnshire, signed a disqualification undertaking on 23 July 2016, which, from 16 August 2016, prevents him from directly or indirectly becoming involved in the promotion, formation or management of a company for seven years
Mr Thorpe was a director from 15 July 2010 to until the date the company ceased trading on 3 October 2014.
The Company went into administration on 3 October 2014 with an estimated deficiency of ?177,551.
The matters of unfitness, which Mr Thorpe did not dispute in the Disqualification Undertaking, were that: While a director of CTL European Limited (CTL), he failed to take adequate action or follow company procedure which resulted in CTL obtaining funds from a factoring company to which CTL was not entitled.
Robert Clarke, Chief Investigator at the Insolvency Service, said:
Using false documents is contrary to the conduct expected of a company director and The Insolvency Service has strong enforcement powers which we will not hesitate to use to remove dishonest or reckless directors from operating a business in an environment with the benefit of limited liability.