Two former directors have been disqualified from acting as company directors after recording false sales income of over £1bn per year….
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div>Two former directors have been disqualified from acting as company directors after recording false sales income of over £1bn per year
John and Carmel Billany, both 68 and of 11 High Road, Redworth, Newton Aycliffe, County Durham, have been disqualified for nine years and three years six months respectively for claiming the company Linden Group Limited had a turnover of £1.2bn a year in order to obtain finance, when actually it was in the region of £3m.
Linden Group supplied hydraulic components and became insolvent in September 2013 after owing money to a finance company.
Linden Group was sold to an unconnected company by the liquidator and continues the business using a similar name, however John and Carmel Billany have no connection with that company.
The pair provided disqualification undertakings to the Secretary of State for Business, Innovation and Skills, where John Billany did not dispute he caused the company raise false sale invoices and Carmel Billany did not dispute she had neglected her duties as a director.
Mark Bruce, Chief Investigator with the Insolvency Service, said: “These disqualifications should demonstrate to company directors that the Insolvency Service will investigate all forms of misconduct, no matter how complicated the evidence or how long the paper trail is.”
“We will always look to remove from the business community those directors who act below the standards that should be expected of them.”
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