Company Director disqualified for taking back “his” £500,000
February 22 2013
Roger Dyson, director of Roger Dyson (U.K.) Limited which has been involved in the construction of recovery vehicles for nearly 40 years, has been banned from being a director for five years.
His disqualification on 16 January 2013 at the High Court in Birmingham follows an investigation by the Insolvency Service. The five year disqualification order was made in respect of Mr Dyson benefiting ahead of creditors. The court heard that in July 2008 Mr Dyson made an unsecured loan of £500,000 to the company. On 1 December 2008, two months before Roger Dyson (U.K.) Limited entered into liquidation, Mr Dyson repaid himself ahead of creditors, thereby increasing the company’s overdraft to nearly £1 million.
The company ceased to trade on or around 14 January 2009 and went into voluntary liquidation on 4 February 2009, with losses of more than £1.3 million. The disqualification means that Roger Dyson, 62, cannot act as a director, control or manage a company until 2018.
Robert Clarke, Head of Company Investigations in Birmingham commenting on the disqualification said “the order made in this case sends a clear message to other company directors that if they run a business in a way that is detrimental to either its customers or its creditors, they will be investigated by the Insolvency Service and removed from the business environment”.
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