Legal News
Garage owner disqualified for trading while insolvent (15 June 2017)
Date: 15/06/2017
An Insolvency Service investigation has resulted in a garage owner being disqualified for trading while insolvent – the Insolvency Service has now issued a statement to clarify that the new occupier of the Pontyclun premises from where Bets Centres Ltd traded is an unrelated business.
In June 2015, Russell Gwyn Williams was disqualified from acting as a director for seven years for trading to the detriment of creditors between 25 January 2013 and 14 August 2013 while his garage repairer and MOT specialist group of businesses was insolvent, incurring further liabilities of £106,097 – including £89,134 to the Crown for PAYE/NIC and VAT.
Williams, now 63, also personally benefited by causing £107,200 in transactions to the detriment of creditors from 25 January 2013 and June 2013.
Bets Centres Ltd was incorporated on 16 October 2012 and traded from three separate locations in and around Cardiff.
The company was subject to a creditors’ voluntary liquidation on 14 August 2014 and had an estimated deficiency of £373,803.
The disqualification follows an investigation by the Insolvency Service and Williams gave an undertaking to the Secretary of State for Business, Innovation and Skills which prevents him from becoming involved in the promotion, formation or management of a company until 2022.
After Williams was disqualified, Chief Investigator of the Insolvency Service, Sue MacLeod, said:
“In investigating insolvent companies, the Insolvency Service always looks very closely at individuals who demonstrate a disregard for creditors and appropriate action is taken where wrongdoing is uncovered.”
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