Rotherham drylining firm bosses banned for six years

Aaron Morby 10 years ago
Share

The bosses of a Rotherham drylining contractor have been banned from acting as directors for six years after pocketing over £375,000 from their firm causing it to go bust.

Peter Baker, 44, and Dean Longden, 42, were directors of First Fix Ceiling & Partitions, which was placed into creditors’ voluntary liquidation in February 2011.

An investigation by the Insolvency Service found that in October 2010, following the closure of several trade clients, the two directors sought professional advice about the liquidity of their contracting business.

They were told First Fix was solvent, with liabilities of £170,000 and assets of £462,000, mainly cash in the firm’s bank account.

Between that meeting and the voluntary liquidation of First Fix, Baker withdrew over £190,000 and Longden over £185,000, including £60,000 each on 26 January 2011.

Creditors in the voluntary liquidation totalled £253,865 of which £216,693 were owed to the HM Revenue & Customs.

The liquidator has realised funds totalling £114,237 of which £90,000 were repayments by the pair.

Clive Tranter, head of the company investigation north east team based in Leeds said: “Mr Baker and Mr Longden have presided over a company that in just three months went from being capable of paying its liabilities, to one which was insolvent, due to the directors withdrawing company funds.

“The directors claimed that they were acting on professional advice but their undertakings indicate they have accepted their actions were not those of responsible directors.

“The public can be assured that The Insolvency Service will seek to take action against such directors and aims to protect the public and public finances from future such abuses.”

Latest news

Materials giant CRH looks to sell contractor Farrans

More than 550 staff set to get new owner
1 day ago

West Yorkshire transport projects delayed to save £270m

Over 30 transport schemes to be placed on hold due to cost inflation budget pressure
9 hours ago

Decision on A1 Costain dualling job delayed for third time

Development consent decision for £260m Northumberland scheme put back a further 9 months
10 hours ago

Colas wins £140m Cheshire highways upkeep deal

Incumbent contractor Ringway will handover to Colas in April
10 hours ago

Skanska to lend staff cash

Contractor links-up with finance firm to offer affordable loans to employees
10 hours ago

Ilke Homes pulls off £100m record-breaking fund raise

Largest-ever capital raise by a UK modular house builder to fund expansion
1 day ago

Construction buyers fear for year ahead

"Construction companies now have a tightrope to walk in terms of being ready for recovery and cautious around investment"
1 day ago

Gove calls for competition probe into house building

Levelling Up and Regeneration Bill 'strengthened' with new measures
1 day ago

Schools get £500m for energy upgrades this winter

Extra cash found for better heating controls, insulation and energy efficient lighting
1 day ago

1,000-home North London scheme approved

Developer Hill will start work in the Spring on South Tottenham site
1 day ago

Bid race for £500m Suffolk construction framework

Construction and building services firms called up for East of England four year deal
1 day ago

Mace employs robot dog to avoid slip and trips in tunnel

Robot working in dark and hazardous conditions under Heathrow Airport
1 day ago

Administrator details confirmed at Southampton M&E firm

Begbies Traynor now in charge at Working Environments as suppliers face large losses
2 days ago

Former Galliard chief takes helm at Inland Homes

New CEO Don O'Sullivan sets out to return south east house builder to profitability
1 day ago

Applicant numbers nosedive for construction vacancies

Recruitment market gets even more competitive - how the Enquirer can help
2 days ago

Industry veteran to head Henry Bros northern arm

Peter Commins, former Kier and Balfour Beatty northern chief, to spearhead growth drive
1 day ago

Housing association shuts in-house modular factories

Swan closes loss-making steel frame and cross-laminate timber factories
2 days ago

350-homes approved around iconic London Tube station

Housing blocks to be built around Grade II-listed Hounslow West Tube station
2 days ago

Domis set for £195m Boddingtons Brewery scheme

Developer Salboy buys Manchester site to kickstart long-awaited 556 homes project
2 days ago

John Lewis £500m funding deal to build 1,000 rental homes

Deal to advance BTR flats at store sites in Bromley, West Ealing and Reading
3 days ago

Esh launches new housing retrofit division

Esh Retrofit Solutions will target market to improve the energy performance of social rented homes
2 days ago

Eric Wright wins tricky £52m Liverpool transformation

Contractor working with engineers at Ridge and Partners on "challenging" Stanley Lock Flight site
5 days ago

Investment giant buys Bristol M&E contractor

RDCP Infrastructure acquires Avon Combined Electrical Services
5 days ago

Demolition start for £50m Farnworth town centre rebuild

Caddick Construction is tipped for main works due to start in the spring
5 days ago

L&G Modular strikes deal to build 1,000 affordable homes

Modular homes business teams up with Hampshire's Vivid housing association
5 days ago

Former Erith operations director joins John F Hunt

Scott Exell named new operations director at demolition specialist John F Hunt
6 days ago

Green light for £135m Leeds twin tower resi scheme

Construction to start in New Year on 500 build-to-rent apartments
6 days ago

Mace hits 1m tonnes carbon saving target for clients

Present work pipeline betters 2026 carbon emission saving target
6 days ago

Plans in for £40m surf park at former Kent colliery

Seahive surf lagoon and health resort will be built near Deal
6 days ago

Crushed demolition worker vows to return to industry

Shannon Brasier hoping to return to construction following horror accident
6 days ago

Contractor services