Steven Massam, a
freelance radio presenter in Hull, has given a three-and-a half
years bankruptcy restrictions undertaking to the Secretary of
State for Business, Innovation and Skills following an
investigation by the Insolvency Service.
The undertaking, which came into effect on 30 May 2012, restricts
Mr Massam from being a director of a company without the
permission of the court. He must also disclose his bankruptcy
restrictions when applying for credit of more than £500, and the
name by which he was made bankrupt when seeking to do any business
in a different name.
Investigations found that Mr Massam had neglected his business
affairs and failed to pay income tax and national insurance
contributions totaling £59,492, and therefore contributed to his
own bankruptcy and losses to his creditors.
In deciding the length of the restriction awarded, the Secretary
of State took into the account the fact that Mr Massam had been
declared bankrupt once before in March 2005 for non-payment of taxes.
Commenting on the case, the Official Receiver in Hull Andrew
Oliver said:
“This is a clear case of total disregard for the proper way to
conduct business. Mr Massam wilfully neglected to run his business
affairs properly and failed to pay his taxes. The undertaking
sends a clear message to business operators that such practices
will be investigated and dealt with by the Insolvency Service.
Notes to Editors
Bankruptcy Restriction Undertakings remove the requirement for a
court hearing at which a Bankruptcy Order for a longer period
could be imposed. 2. The Insolvency Service administers the
insolvency regime and Official Receivers investigate all
compulsory liquidations and individual insolvencies (bankruptcies)
to establish why they became insolvent. The Service also
authorizes 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. 3. All public enquiries concerning bankruptcies in Hull
should be directed to the Official Receiver’s Office, Hull: 01482
323729 or hull.or@insolvency.gsi.gov.uk 4. Media Enquiries should
be directed to: Kathryn Montague – Media Relations Manager – 020
7674 6910 Ade Daramy - Press Officer - 020 76596 6187
Contacts:
Kathryn Montague
kathryn.montague@insolvency.gsi.gov.uk