Mr Cooperman’s disqualification follows an investigation by the Insolvency Service which found he had unfairly discriminated against HMRC by choosing to pay the company’s trade creditors instead of the company’s tax liabilities, between March 2008 and April 2011, when the company ceased to trade
Platinum Resources Limited was placed into Liquidation on 19 July 2012 with an estimated deficiency to creditors in excess of £178,000 and outstanding VAT and PAYE bills totalling £90,000.
Robert Clarke, Group Head of Insolvency Investigations North at the Insolvency Service, commented:
Company directors have a duty to ensure businesses meet their legal obligations, including paying taxes. Deliberate neglect of tax affairs is not a victimless action as it deprives the taxpayer of the funds needed to operate public services and introduces unfair competition in the business market.
The Insolvency Service will investigate and disqualify directors who do not comply with their obligations and remove the protection of limited liability.
Notes to editors
Platinum Resources Limited (CRO No. 03535991) was incorporated on 27 March 1998. The company’s registered office was 28 Regent Road, Altrincham, Cheshire, WA14 1RP.
Platinum Resources Limited was subject to Creditors’ Voluntary liquidation on 19 July 2012.
Barry Cooperman is of Altrincham, Cheshire and his date of birth is 5 August 1955.
A disqualification undertaking has the effect that without specific permission of a court, a person with a
- 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 are placed on disqualified directors by other regulations.
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.
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