Gary Christopher Shingler, who ran Midland Premier Freight Limited, a road transport business in Studley, Warwickshire, has been disqualified from acting as a director for eight years for failing to ensure the company kept proper accounting records or delivered any adequate records to the company’s liquidator.
Mr Shingler’s disqualification follows an investigation by the Insolvency Service.
Mr Shingler, 51, has given an undertaking to the Secretary of Sate for Business, Innovation & Skills not to act as a director, manage, or in any way control a company from 26 June until 25 June2022.
Commenting on the disqualification, Sue MacLeod, Chief Investigator for Insolvent Investigations Midlands and West, said:
“The undertaking signed by Mr Shingler sends a clear message to other company directors; if you run a business in a way that is detrimental to either its customers or creditors you will be in our sights. The Insolvency Service will investigate you and you could be removed from the business environment.”
The company went into liquidation on 4 May 2011 with assets of £6,240 and liabilities of £332,595.
The investigation found that Mr Shingler failed to ensure that the company maintained and/or preserved adequate accounting records between 11 March 2010 and the date of liquidation, or alternatively, he failed to deliver up such records as were maintained by the company to the liquidator as he was required by law to do.
Amongst other matters, this failure to keep proper records has meant it has not been possible to establish full details of the company’s dealings with particular companies affiliated with Mr Shingler, explain payments totalling £760,664 in the period from 5 January 2011, or determine the company’s true asset position at liquidation.
Mr Shingler also failed to ensure the company complied with its statutory obligations to submit timely tax returns and payments and thereby caused it to trade to the detriment of HM Revenue & Customs (“HMRC”) from 11 March 2010 to liquidation.
According to HMRC records, the company’s outstanding PAYE/NIC liabilities totalled £175,402, including an estimated liability for the 2010/11 and 2011/12 tax years totalling £38,327.
In addition, between 26 April 2011 and 9 May 2011 Mr Shingler caused the company to enter into transactions totalling £76,142, of which £38,505 was paid to an affiliated business to the detriment of creditors generally, and £37,637 was paid out after the date of liquidation, to the detriment of the company’s bank specifically. The payments increased the bank’s losses in the company’s liquidation to £59,030.
Notes to Editors
Midland Premier Freight Limited was incorporated on 9 June 2006. Gary Christopher Shingler was director of the company from 11 March 2010 to liquidation. The company was based at The Slough, Studley, B80 7EN.
Gary Christopher Shingler is of Solihull and his date of birth is 23 June 1963.
On 3 June 2014, Gary Christopher Shingler signed a Director Disqualification Undertaking banning him from being a company director for a period of eight years. The Undertaking was accepted by the Secretary of State on 5 June 2014 and the period of disqualification commences on 26 June 2014.
Mr Shingler had been chairman at the company meeting held on 14 April 2011 at which it was formally decided to wind the company up voluntarily. On 26 April 2011, prior to the first of two payments made to the affiliated business, the company’s primary bank account had a credit balance.
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;
- act as an insolvency practitioner; or
- be a receiver of a company’s property.
In addition many other restrictions 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 can be found at https://www.gov.uk/government/collections/information-about-company-director-disqualification
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 from:
Media enquiries only should be directed to: Kathryn Montague, Media & Campaigns Manager on 0207 674 6910 or Ade Daramy, Media Manager on 0207 596 6187.
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Ade Daramy Phone: 020 7596 6187
Kathryn Montague Phone:0207 674 6910
Published: 3 July 2014
From: The Insolvency Service