Businessman banned from directorships
AN IPSWICH businessman has been banned from running companies after the business he ran collapsed with massive debts. Peter Jackson, 52, of Brooks Hall Road, was a director of Best Trade Frames Ltd, a replacement window suppliers business based in Nacton Road, Ipswich.
AN IPSWICH businessman has been banned from running companies after the business he ran collapsed with massive debts.
Peter Jackson, 52, of Brooks Hall Road, was a director of Best Trade Frames Ltd, a replacement window suppliers business based in Nacton Road, Ipswich.
The business failed with debts estimated at £300,000.
A spokesman for the insolvency agency said Mr Jackson had taken an undertaking not to hold directorships or to take any part in company management for the next eight years.
He said: "Best Trade Frames Ltd was placed into voluntary liquidation on September 17 2002 with estimated debts of £300,784 owed to creditors.
"Acceptance of the undertaking prevents Mr Jackson from being a director of a company, or in any way concerned or taking part in the promotion, formation or management of a company."
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The spokesman said Mr Jackson did not dispute two matters of unfit conduct.
He added: "He caused Best Trade to trade at the risk of creditors including the Inland Revenue and Crown. He caused payments totalling £119,428 to be made after Best Trade ceased trading which were to the detriment of the Crown and creditors."
The Insolvency Agency works on behalf of the Secretary of State for Trade and Industry and has responsibility for the investigation of the conduct of directors of failed companies.
The agency also has responsibility for the disqualification of those who are considered to be unfit to be involved in the management of companies in the future.