{"id":67131,"date":"2016-02-01T13:22:36","date_gmt":"2016-02-01T13:22:36","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=41cdf907a18b9a7e480a490eedff215f"},"modified":"2016-02-01T13:22:36","modified_gmt":"2016-02-01T13:22:36","slug":"press-release-director-ban-set-in-stone-after-insolvency-investigation","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=67131","title":{"rendered":"Press release: Director ban set in stone after insolvency investigation"},"content":{"rendered":"
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The disqualification, from 8 January 2016, prevents Mr Lister from directly or indirectly becoming involved in the promotion, formation or management of a company until July 2018. <\/p>\n

The \u2018preference transaction\u2019 had the effect of giving one creditor a \u2018preference\u2019 in the insolvency to the prejudice to the general body of creditors.
\nSpecifically, the matter of Mr Lister\u2019s unfitness was that, whilst a director of GMS Stone Supplies Limited and the company was insolvent, an invoice for the sale of stock in the sum of \u00a3268,762 inclusive of VAT was raised to a connected company, which resulted in causing GMS to transfer stock to the connected company to the value of that invoice. The transfer was to the detriment of GMS\u2019 creditors.<\/p>\n

On 28 January 2013, less than a month before GMS was liquidated and whilst it was in financial difficulty, Mr Lister caused GMS to transfer stock in the sum of \u00a3268,762 (inc. VAT) to a company of which Mr Lister was a director, which was also a creditor of GMS. The stock transfer was to the detriment of GMS\u2019s trade creditors and HMRC, who were owed \u00a3171,952 at Liquidation on 27 February 2014, as GMS did not receive full payment for the value of stock transferred.<\/p>\n

Robert Clarke, Group Leader, Insolvent Investigations North, of the Insolvency Service, said:<\/p>\n

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The Insolvency Service and The Department for Business will take firm action against those directors who act with a disregard for company creditors, causing them loss and who are unfit to manage a company, to protect the public and the business community.<\/p>\n<\/blockquote>\n

Notes to editors<\/h3>\n

Mr Lister\u2019s date of birth is 20 November 1964 and he resides in Halifax.<\/p>\n

GMS Stone Supplies Limited (CRO No. 06477392) was incorporated on 18 January 2008 and latterly traded as a stone supplier from Gypsy Park Farm, Lindley Moor Road, Huddersfield, HD3 3TE. <\/p>\n

Mr Lister was a director from 18 January 2008 to Liquidation. The Company went into Creditors Voluntary Liquidation on 27 February 2013 with an estimated deficiency of \u00a3260,700.<\/p>\n

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