Bankrupt demolition director jailed for 16 months

George Charles Taylor, director of Amalgamated Demolition Services Ltd, has been jailed for 16 months following an investigation by the Insolvency Service.

Even though Taylor was an undischarged bankrupt he continued to be a director of the alternatively named Amalgamated Demolition and Asbestos Services Ltd company. He requested a large payment of £22,000 be made into a new bank account and did not inform his official receivers of the company using two vehicles that were subject to hire purchase agreements.

Amalgamated Demolition Services Ltd owed £142,059 to creditors.

Robert Peck, official receiver for Croydon, made it clear that any director attempting such abuse would be punished by law:

This case shows the severe consequences awaiting company directors who abuse their position or disregard the insolvency laws in place to protect the public and businesses. The Insolvency Service has robust powers and we do not hesitate to use them as Mr Taylor found out.

Source: Building.co.uk