Director of Yorkshire firms given nine-year ban for ‘scheme designed to undermine the insolvency system’
A businessman with firms previously registered in Yorkshire has been banned as a company director for nine years after being involved in what the Insolvency Service described as a “scheme designed to undermine the insolvency system”.
Neville Taylor, 57, was paid more than a quarter of a million pounds by Atherton Corporate (UK) Ltd to become the sole director of more than 400 companies.
Taylor’s disqualification means he will have to step down as director of at least 196 companies from his correspondence address of Bridge Street, in the town of Kington in Herefordshire.
He will also no longer be able to act as director of more than 250 companies with correspondence addresses in Wakefield, Telford and Dunfermline.
Dave Magrath, director of Investigation and Enforcement Services at the Insolvency Service, said: “Neville Taylor hampered efforts by liquidators to identify assets, caused a widespread loss to creditors and breached his duties as a director to act in the best interest of the companies and creditors.
“He also accepted that his conduct was part of a scheme designed to subvert and undermine insolvency legislation.
Mr Taylor was disqualified for his conduct as director of companies including M&G Olympic Products Limited , which was previously registered in Sheffield, and Rohani Limited, which was previously registered in Bradford.
Mr Taylor was also disqualified for his conduct as director of another 10 companies, including Abode D&B Ltd and Necto Build Ltd.
The companies traded in sectors including construction, human resources, education, farming and IT before they ran into financial difficulties. Taylor became sole director of the companies at various points between April 2022 and March 2023 after they had ceased trading but before they entered liquidation.
Insolvency Service analysis of bank statements revealed Taylor was paid £266,914 by Atherton Corporate (UK) Ltd to perform this role.
The companies had combined assets of £8,278,912 according to their final filed accounts.
By the time the companies entered liquidation, with Taylor at the helm, their estimated assets stood at only £676,169, a decrease of more than £7.6 million.
Mr Magrath added: “Taylor made inadequate attempts to identify and locate millions of pounds of assets, to obtain company records, or to make himself aware of the companies’ trading. At the same time, he was paid by Atherton Corporate (UK) Ltd to enable this scheme.”
The Secretary of State for Business and Trade accepted a disqualification undertaking from Taylor, and his ban started on Friday, January 3. The undertaking prevents him from being involved in the promotion, formation or management of a company, without the permission of the court.
Atherton Corporate (UK) Ltd was liquidated in the public interest in August 2024 along with connected company Atherton Corporate Rescue Limited.
Five associated companies, three of which listed Taylor as a director, were also shut down after they supported the scheme by buying the distressed companies and appointing new directors.