WIREDGOV

Daron Lee Mann, a director of a contract hire and general brokerage company has been disqualified for 15 years, following an investigation by The Insolvency Service’s Company Investigations team in Manchester.

The disqualification period is the maximum possible period under legislation, and it comes after Mr Mann was disqualified as a director for the third time. The Secretary of State accepted an undertaking from Mr Mann, of Creeting St Mary, Ipswich, which commences on 18 July 2012, banning him from acting as a company director or from managing or in any way controlling a company until 2027.

Mr Mann’s company, Anglo Asset Finance (UK) Ltd (‘Anglo’), was placed into Administration on 5 July 2010, with an estimated debt to creditors of £1,073,406.

Mr Mann, who was first disqualified in March 2005 for a period of two years, did not dispute that:

1) He was convicted of causing Anglo to defraud a finance company, which suffered a loss of £419,255, during 2008. He has since stated that he is appealing his conviction in March 2011 and the sentence given.

2) He acted as a director of Anglo’s drinks division between 19 August 2009 and 5 July 2010 whilst he was subject to his second disqualification, which commenced in August 2009 and lasts for a period of eight years.

3) Anglo failed to maintain or preserve, or alternatively deliver up to the administrators adequate accounting records. The company’s records did not include any evidence of deliveries or release of stock to customers. When the administrators attempted to collect payment for invoices issued by Anglo totalling £897,626, all the ‘customers’ denied receiving the goods invoiced.

Commenting on the case, Claire Entwistle, Director of Company Investigations North, said:

“Directors who seek to defraud others for their own benefit will be pursued rigorously by The Insolvency Service. The same applies to an individual who flouts the law by continuing to act as a director of a company in breach of an existing disqualification.

Mr Mann’s actions have resulted in him now being disqualified for the maximum period of time.”


Ends

Notes to Editors

1. Anglo Asset Finance (UK) Ltd (“Anglo”) was incorporated on 5 April 2004 and was placed into Administration on 5 July 2010. 2. Mr Mann was a formally appointed director of Anglo from 14 April 2008 until 23 March 2009, when he resigned his directorship. 3. 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 4. Company Investigations, part of The Insolvency Service, carries out confidential enquiries on behalf of the Secretary of State for Business, Innovation & Skills (BIS). 5. Media Enquiries should be directed to: Kathryn Montague, Media Relations Manager, on 020 7674 6910 or, Ade Daramy, Press Officer, on 020 7596 6187Ins12/Coms/057

Contacts:

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