David Philip Copestake, a director of David Philip Copestake (Highbury) Limited (DPC), which traded as David Philips, a letting agent based in North London, has been disqualified from acting as a company director for six years for failing to protect tenant deposits.
His disqualification follows an investigation by the Insolvency Service.
David Copestake, 46, has given an undertaking that he will not act as a director of a limited company for six years, as a result of his conduct as a director of DPC, which went into liquidation on 15 March 2013.
In giving the undertaking, Mr Copestake did not dispute that between January 2010 and February 2013, he caused DPC to take deposits without properly protecting them in a deposit protection scheme. The total amount of deposits taken was around 339,000, but only deposits of 38,960 were protected. The company went into liquidation with debts of least 595,091.
The disqualification means that Mr Copestake may not be a director of a company or be involved in the management of a company in any way for the duration of his disqualification unless he has permission from Court.
Commenting on the disqualification, Mark Bruce, a Chief Investigator for The Insolvency Service said:
The undertaking signed by Mr Copestake sends a clear message to other company directors. The Housing Act 2004 places those who receive tenancy deposits under clear obligations to protect tenants and landlords from loss. If your company has failed and you have not taken seriously your responsibilities as a director when dealing with tenancy deposits, The Insolvency Service will investigate you and you could be removed from the business environment.