10 year disqualification for director who failed to cooperate and deliver up records
Samuel David Henriot, a director of SH Marketing Ltd (SH) and Tri Star Solutions (London) Limited (Tri Star), based in London, has had a Disqualification Order made against him in the High Court, for 10 years, for failing to cooperate with an investigation conducted by the Insolvency Service, and for failing to maintain or deliver records to explain receipts and payments through the two companies.
The disqualification regime exists to protect the public and Mr Henriot’s disqualification from 6 April 2016, means that he cannot promote, manage, or be a director of a limited company until 2026.
This disqualification follows investigation by the Official Receiver at Public Interest Unit, a specialist team of the Insolvency Service, whose involvement commenced with the winding up of the companies in the public interest following an investigation by Company Investigations - also of the Insolvency Service - into the affairs of the companies.
The Official Receiver’s investigation uncovered that SH and Tri Star both received money from a limited company trading in carbon credits, which had been wound up in the public interest. No records were delivered to Company Investigations or the Official Receiver to explain why payments of hundreds of thousands of pounds had been paid to SH and Tri Star.
Commenting on this case Paul Titherington, Official Receiver in the Public Interest Unit, said:
Company directors have a duty to cooperate with Company Investigations and the Official Receiver, and they also have a duty to maintain records to explain the company’s financial transactions and deliver these records to the Official Receiver.
As a result of the lack of records, it has not been possible to ascertain what creditors SH and Tri Star had and there may be creditors I am presently unaware of.
Notes to Editors
SH Marketing Ltd (Company Registration Number 07868144) was incorporated on 1 December 2011.
Tri Star Solutions (London) Limited (Company Registration Number 07796075) was incorporated on 4 October 2011.
The petitions to wind up the companies were presented by the Secretary of State for Business, Innovations and Skills in the public interest following an investigation conducted by Company Investigations (Live), another specialist unit within the Insolvency Service which uses powers under the Companies Act 1985 (as amended) to conduct confidential enquiries into the activities of live limited companies in the UK on behalf of the Secretary of State for Business, Innovations & Skills (BIS). The winding up orders against SH Marketing Ltd and Tri Star Solutions (London) Limited were both made on 18 September 2013.
On 16 March 2016, Registrar Briggs made a disqualification order against Samuel David Henriot for a period of ten years. The period of disqualification will commence on 6 April 2016.
A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot:
- act as a director of a company
- take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership
- be a receiver of a company’s property
In addition that person cannot act as an insolvency practitioner and there are many other restrictions which are placed on disqualified directors by other regulations.
Disqualification undertakings are the administrative equivalent of a disqualification order but do not involve court proceedings. Further information on director disqualifications and restrictions is available.
The Insolvency Service administers the insolvency regime, investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they became insolvent. It may also use powers under the Companies Act 1985 to conduct confidential fact-finding investigations into the activities of live limited companies in the UK. In addition, the agency authorises and regulates the insolvency profession, deals with disqualification of directors in corporate failures, assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees, provides banking and investment services for bankruptcy and liquidation estate funds and advises ministers and other government departments on insolvency law and practice.
Further information about the work of the Insolvency Service, and how to complain about financial misconduct, is available.
All public enquiries concerning the affairs of the company should be made to: The Official Receiver, Public Interest Unit (South), The Insolvency Service, 2nd Floor, 4 Abbey Orchard Street, London WC1B 3SS. Tel: 020 7637 6404 Email: email@example.com.
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Published: 24 March 2016
From: The Insolvency Service