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Bosses banned for insolvent trading
Page 14
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THE DIRECTORS OF a haulage firm that collapsed owing hundreds of thousands of pounds have been banned from holding a directorship or taking part in any company management for the next five years.
James Arnold Kendrick and his wife Margaret both of Gathurst Lane. Shevington, Wigan, were given the bans because of their conduct as directors of Alfred Goulding, which was placed into liquidation on 12 September 2002 with estimated debts of £378,000.
The Insolvency Service says that after seeking the advice of an insolvency practitioner in March 2001 who advised the firm to cease trading and explained about wrongful trading, the pair continued to run the business when it was unable to pay its debts.
Between 31 March 2001 and 12 September 2002 the couple allowed the amount owing to creditors to increase to £190,913, while the amount owing to the bank decreased by £25,342. They also allowed the firm to trade to the detriment of the Inland Revenue and Customs & Excise.