{"id":66841,"date":"2016-01-26T11:56:51","date_gmt":"2016-01-26T11:56:51","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=d3ddf6692381ca6989b7236c88075a8c"},"modified":"2016-01-26T11:56:51","modified_gmt":"2016-01-26T11:56:51","slug":"press-release-director-banned-for-not-keeping-proper-records","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=66841","title":{"rendered":"Press release: Director banned for not keeping proper records"},"content":{"rendered":"
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On 27 November 2015, the Secretary of State accepted a disqualification undertaking from Mr Georgeson, effective from 18 December 2015, for 6 years. <\/p>\n

The company traded from seven locations across the country, retailing in fabric and furniture. <\/p>\n

The Company went into Administration on 16 December 2013 with an estimated deficiency of \u00a3158,589.
\nAn investigation by the Insolvency Service found expenditure of \u00a3256,870 remained unexplained, including almost \u00a348,000, spent whilst Mr Georgeson was in Spain. Transactions with a connected company were also unexplained, as was the financial position at liquidation regarding debtors. <\/p>\n

Commenting on the disqualification, Sue MacLeod, Chief Investigator at the Insolvency Service, said: <\/p>\n

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Company directors should note from this enforcement result that any failure to maintain or deliver up adequate accounting records is likely to lead to serious censure.<\/p>\n<\/blockquote>\n

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In this particular case, Mr. Georgeson was aware of the requirement to maintain or deliver up the company\u2019s accounting records, yet failed to do so with the result that transactions amounting to several thousand pounds could not be explained.<\/p>\n<\/blockquote>\n

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This disqualification is a reminder to others tempted to do the same that the Insolvency Service will rigorously pursue enforcement action and seek to remove from them the privilege of trading with limited liability to protect the public for a lengthy period.<\/p>\n<\/blockquote>\n

Notes to editors<\/h4>\n

Mr Georgeson\u2019s date of birth is 11 September 1949 and he resides in Liverpool.<\/p>\n

The Bankrupt Shop Limited (CRO No. 03325180) was incorporated on 27 February 1997 and latterly traded from seven locations across the country in the retail of fabric and furniture. <\/p>\n

Mr Georgeson was a director from 25 April 1997 to 16 December 2013. <\/p>\n

A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot:<\/p>\n