Article

Leeds businessman to pay back £770,000 and disqualified as a director

News Release issued by the COI News Distribution Service on 22 May 2012

Kevin Victor Sharp, a Leeds-based businessman and shadow director, has been ordered to pay £776,866 following a confiscation hearing on 9 May 2012 at Leeds Crown Court. Mr Sharp, who had previously been subject to a four year disqualification undertaking not to act as a company director, was also disqualified from being a company director for a further period of four years.

Mr Sharp’s conviction follows an initial investigation by The Insolvency Service and a criminal investigation and prosecution by the Department for Business Innovation and Skills (BIS).

The confiscation order against Kevin Sharp is on condition that the amount is paid within six months. Failure to do so will incur a four-year prison sentence.

Mr Sharp pleaded guilty at the Leeds Crown Court on 21 May 2010 to three counts of acting as a shadow director of three care homes - Roseville Care Homes (Limetrees) Ltd, Roseville Care Homes (The Old Parsonage Melksham) Ltd and Colourscape Investments (The Lodge) Ltd - whilst disqualified contrary to section 13 of the Company Director’s Disqualification Act 1986. The financial penalties were finalised at the compensation hearing on 9 May 2012.

He had previously signed a disqualification undertaking not to act as a company director in February 2004 for four years in relation to his conduct as a director of London Doors and Joinery Ltd which went into liquidation in May 2002.

Commenting on the case, Deputy Chief Investigating Officer Mike Williams from BIS said:

“The Insolvency Service and the BIS will take firm action when we find that the undertakings given to protect the public and the business community have been breached”

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Notes to Editors

1. Following a confiscation hearing under the Proceeds of Crime Act 2002 on the 9 May 2012 at Leeds Crown Court, presiding judge HHJ Clark made a confiscation order against Kevin Sharpe of £776,866, to be paid within six months with a custodial sentence of four years in default. Mr Sharp was also disqualified from being a company director for a further period of four years. 2. The Insolvency Service administers the insolvency regime investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they became insolvent. The Service also authorises and regulates the insolvency profession; deals with disqualification of directors in corporate failures; assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees; provides banking and investment services for bankruptcy and liquidation estate funds; and advises ministers and other government departments on insolvency law and practice. Further information about the work of The Insolvency Service is available from www.bis.gov.uk/insolvency 3. Media Enquiries should be directed to: Kathryn Montague, Media Relations Manager, Telephone 020 7674 6910 or Ade Daramy, Press Officer on 020 7596 6187 Ins12/Coms/046

Contacts:

Ade Daramy
Phone: 020 7596 6187
ade.daramy@insolvency.gsi.gov.uk