TWO women directors of a Suffolk haulage firm have been banned from running a business after their company failed with debts of £250,000.Sharon Mohan, of Heath Lane, Ipswich, and Jennifer Molloy, of Princes Road, Felixstowe, were directors of Orwell Transport Ltd.
By Richard Cornwell
TWO women directors of a Suffolk haulage firm have been banned from running a business after their company failed with debts of £250,000.
Sharon Mohan, of Heath Lane, Ipswich, and Jennifer Molloy, of Princes Road, Felixstowe, were directors of Orwell Transport Ltd.
The company – which traded from the Old Customs Offices at the West Bank Terminal in Ipswich – went into liquidation in April last year with estimated debts of £250,512 owed to creditors.
The Insolvency Service launched an investigation and both women have now given undertakings not to hold a directorship or take any part in company management because of their conduct.
Mrs Mohan is banned from being a director or in any way taking part in the promotion, formation or management of a company for four and a half years, and Mrs Molloy for two years.
The investigators – part of the Department of Trade and Industry – found that Mrs Mohan had caused Orwell Transport Ltd to trade from April 1999 onwards without paying the Inland Revenue £149,410 tax during that period.
Mrs Molloy had failed in her duties as a director of the company in allowing the situation to arise.
The Insolvency Service investigates allegations of unfit conduct brought to its attention by official receivers and insolvency practitioners.
If it feels disqualification from business is necessary, it can seek court action – which can lead to a person being banned for between two and 15 years – or ask the people involved to give a voluntary undertaking.
A breach of the undertaking or a court order can lead to a fine, prison sentence of up to two years, and personal liability for the company's debts.
Anyone wanting to report details of someone breaching an order or undertaking should contact the service's 24-hour hotline on 0845 6013546.
WEBLINKS: www.insolvency.gov.uk
www.companieshouse.gov.uk
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