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