TWO Hereford businessmen have been disqualified from being company directors after the way they ran a company, which failed with debts of nearly £225,000.
At the hearing at Hereford County Court on May 15, William David Davies, of Linnet Close, Newton Farm, Hereford, and Laurence Arthur Hinder, of Ridge Hill, Lower Bullingham, Hereford, were both disqualified for three years.
The Disqualification Orders were made because of their conduct while directors of Hereford Profiles Ltd, which carried on business as metal profilers and manufacturers of mobile vehicle lifts, from Beech Business Park, Three Elms, Hereford.
The company was wound up by the court in October 1998 with estimated debts of £224,949.
Matters of unfit conduct found by the court against Mr Davies and Mr Hinder were that they caused the company to trade without providing for liabilities accruing to HM Custom and Excise in respect of VAT and to the Inland Revenue in respect of income tax and National Insurance.
This contravened a Company Voluntary Arrangement which is an alternative to a company going into liquidation, where the company enters a legally binding agreement with its creditors.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article