A COMPANY boss was involved in the running of three transport businesses after his original venture went bust, a court heard.
Gordon Glendinning was yesterday given a four-month prison sentence after admitting contravening an undertaking not to act as a company director.
Durham Crown Court heard that the pledge was made following the downfall of his original company, with debts of £738,649.
The business, Durham Fuels Ltd, of Finchale Road, Durham, was wound up after going into liquidation in March 2001.
Later that year, Glendinning, of Long Garth, Whitesmocks, Durham, agreed to be banned from acting as a company director for seven years.
He was given leave to act as a director of another company, WA Glendinning Ltd, but only for 12 months, from October that year.
It was later extended to April 2003, on the basis that he received supervision from "a mentor", a chartered accountant.
Roger Moore, prosecuting, said an accountant was identified, but during the entire period was never consulted by Glendinning.
That business was wound up and taken over by Minecourt Finance Ltd, which in turn went into liquidation, in January 2005, with more than £450,000 worth of debt.
Meanwhile, Glendinning Transport was incorporated as a limited company, in September 2004, and by July, 2006, went into liquidation with £52,500 worth of debts.
"So, although disqualified, Mr Glendinning has operated as a director of three companies between November 2001 and July 2006, and all three have collapsed,"
added Mr Moore.
Glendinning, 56, admitted three charges of contravening a disqualification as a company director, brought by the Government's Department for Business Enterprise and Economic Reform.
His barrister, Benjamin Williams, told the court: "These are technical breaches of a sort.
"There is nothing covert or any element of subterfuge here.
"What you have is someone who has quite openly acted as a director in breach of these orders."
Mr Williams said Glendinning, of previous good character, was, "a member of the old school", steeped in the family transport business which stretched back more than 100 years.
He added that as a result of the business failings Glendinning is left "financially ruined".
Imposing the prison sentence, Judge John Evans adjourned a confiscation hearing against Glendinning to a date to be fixed after June 30.
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Showing posts with label Man jailed after his third business fails. Show all posts
Showing posts with label Man jailed after his third business fails. Show all posts
Wednesday, 16 April 2008
Posted by Debtsgone LTD at Wednesday, April 16, 2008 0 comments
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