Directors disqualified
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• Two former directors of the failed Newport haulier International Cargo Brokers have been disqualified from acting as company directors by Newport County Court.
Mark Thomas Waite, of Church Road, Newport, and Brian Edward Young, of Kensington Drive, Forth, were disqualified for three and four years respectively because of their conduct as directors of the Rogerstone, Newport firm which was wound up in October 1996 with estimated debts of more than £325,000. The court heard that the two men had allowed the company to trade when they knew it was insolvent caused the company to retain money owed to the Crown; and made a loan to a partnership which they knew was unlikely to be able to repay the debt.
It was said that they had also failed to call in the money due from the partnership or to seek redress from Young, who was a member of that partnership, thus favouring him over other creditors of the company.