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Director Disqualification for Falsifying Sales Income

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Director Disqualification for Two Directors for Overstating Sales by Over £1 Billion. 

This article shows how seriously the Insolvency Service views the offence of overstating sales, which in this case resulted in lengthy director disqualification periods for the two directors involved. This press release by the Insolvency Service confirms that two company directors from Newton Aycliffe, County Durham were disqualified from being company directors for overstating false sales income by almost £1 billion per year.

The Details of this Director Disqualification Case

Mr John Billany (‘Mr Billany’) and Ms Carmel Billany (‘Ms Billany’) were directors of Linden Group Limited (‘the Company’). Companies House confirms that the Company was placed into Administration on 30 August 2013. It appears from the Press Release that the Company became insolvent because it owed money to a finance company.  The directors were found to have inflated the Company’s turnover from around £3 million, to an annual turnover of £1.2 billion, in order to obtain the finance.

Lengthy Director Disqualification Undertakings Were the Result

Both directors provided director disqualification undertakings. Mr Billany did not dispute that he caused the Company to raise false sales invoices and was disqualified for nine years. Ms Billany did not dispute that she neglected her duties as a director and allowed that to happen.  She was disqualified for three years six months.

Comment on this Case

The numbers by which the turnover was inflated in this case are, on the face of it, staggering. We have not, however, seen the full facts of the case, so it is difficult to comment further. This is probably best left to Mark Bruce a Chief Investigator with the Insolvency Service, who said:

“These disqualifications should demonstrate to company directors that the Insolvency Service will investigate all forms of misconduct, no matter how complicated the evidence or how long the paper trail is.

We will always look to remove from the business community those directors who act below the standards that should be expected of them.”

Other Potential Consequences in Addition to Director Disqualification

There might be other potential consequences in this case, as the directors may face a criminal investigation prosecution in the circumstances.

In addition the UK based liquidator may also choose to bring Misfeasance Claims proceedings to recover monies from the directors personally.

NDP can Help if You Are Facing Director Disqualification

In circumstances such as these, when you are facing a lengthy director disqualification period, as director disqualification specialists, we can help. It is always the case that the earlier that you seek and obtain the right advice the more likely it is that we can help, as we are highly experienced in this field.  Please contact us or call us today on 0121 200 7040, or why not email or post the misfeasance claim letter or director disqualification claim letter to us today for a no obligation chat?

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