Christopher Ireland (34), director of Scotboys Group Plc, will be disqualified as a company director for seven years after an investigation found he had breached his statutory obligation to co-operate with the Liquidator and deliver up the company?s accounting*records.
Mr Ireland has given an undertaking to the Secretary of State for Business, Energy and Industrial Strategy that he won?t act as a director of a company for a period of 7 years from 21 March 2017.
Scotboys Group Plc was a company set up for wired telecommunication and travel agency activities.
On 22 September 2015, Scotboys Group Plc, with liabilities of ?52,106 was placed into compulsory liquidation following a winding up petition lodged by Direct Response Limited. Mr Ireland was the sole director of Scotboys Group Plc at that time.
Following the Liquidator?s appointment, the investigation found as a consequence of Mr Ireland?s failure to co-operate and deliver up the company?s accounting records it was not possible to verify:
why Scotboys Group Plc failed to meet the legal requirements of a Plc
the true nature of the company?s trading business and history
the financial position of the company, at any given time, between incorporation on 07 August 2013 and 22 September 2015 when the company was placed into liquidation
what became of unpaid goods supplied by creditors totalling ?24,958
Robert Clarke, Head of Company Investigation at the Insolvency Service said:
Keeping proper records is a pivotal duty for directors and there is no place in the business environment for those who neglect their responsibilities in this area and thereby cover up the activities of the companies they manage. The lack of records in this case made it impossible to determine whether there was other, more serious, misconduct at Scotboys Group Plc and that is reflected in the lengthy period of disqualification.
This ban should serve as a reminder to any directors tempted to do the same: the Insolvency Service will vigorously investigate you and seek to remove you from the marketplace.