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High Court grants liquidator's statutory application to restrict respondents, as former directors of a company which has since been wound up, from acting as a director or secretary of a company for a period of five years, on the grounds that, despite the liquidator providing to the court inadequate evidence of the trading or financial history of the company, the court is satisfied that the respondents failed to discharge their burden of establishing that they acted honestly and responsibly in the management of the company's affairs in circumstances where no annual returns were filed by them after the first year of trading, no books of records were provided to the liquidators and there has been a failure to cooperate with the liquidator since his appointment by the court.
Application to restrict persons from acting as a director or secretary of company for five years - no meaningful account of trading or financial history of company - incomplete information provided regarding realisation of assets and level of deficiency in company as regards creditors - role and conduct of director - liquidator's application for an extension of time to bring application - onus on respondents to demonstrate they have acted honestly and responsibly - onus on applicant to establish respondents are persons to which the statutory application applies - directors of company within twelve months before commencement of its winding up - documentation from companies registration office concerning respondents' positions in company at material time - date of winding up - cooperation with liquidator - breach of statutory obligation to prepare statement of affairs - nature of cooperation with liquidator - liquidator's attempts at cooperation with respondents - failure to file annual returns - failure to maintain proper books of account - gross failure to comply with directors' duties - judgment debt - no steps taken to appeal winding up order - Court will not go behind judgment order - property of company - whether a transaction has taken place regarding company property - liquidator's failure to provide a clear account of disposal of property or of the fact of release of charges - not always appropriate for liquidator to retain petitioner's solicitors in application for restriction order - lack of rebuttal or contradictory evidence to liquidator's claims - failure to demonstrate honest and responsible dealings with company whilst acting as directors - judgment to forwarded to office of director of corporate enforcement
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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