Natalie Rimondi disqualified after cleaning out Full Circle Facilities Management bank accounts despite knowing the company was insolvent.
Natalie Rimondi, director of Full Circle Facilities Management Limited, has been disqualified from acting as a company director for 6 years after transferring company funds of £103,600 to an associated company when she was aware the company was insolvent.
On 1 August 2014, a County Court Judgement was made against the company, and on the same day HM Revenue & Customs wrote to warn the company of potential winding-up proceedings.
Full Circle operated two bank accounts. On 4 August 2014 Natalie Rimondi authorised payments from each of these accounts, for £94,400 and £9,200, to an associated company. Following these payments there was less than £50 left in each of the accounts.
Three days later, on 7 August 2014, the company formally appointed a liquidator. In taking this action, Natalie Rimondi deprived Full Circle’s creditors of funds that should have been available for the Liquidator to distribute.
Full Circle entered liquidation on 3 September 2014 owing £236,871 to creditors.
Commenting on the disqualification, Sue Macleod, Chief Investigator at the Insolvency Service, said:
By 4 August 2014, Natalie Rimondi was aware that insolvency proceedings were inevitable. In transferring the majority of the company’s funds to an associated company she deliberately put these monies out of the reach of creditors.
Her disqualification will prevent a repeat occurrence of this and act as a deterrent to any other directors who are thinking of putting their own interests before that of their company’s creditors.
Notes to editors
Full Circle Facilities Management Limited was incorporated on 22 March 2013 and traded from Full Circle House, Lakeside, Llantarnam Business Park, Cwmbran, South Wales NP44 3XS.
Natalie Rimondi was appointed as a director from 15 April 2014 to 3 September 2014, the date of liquidation.
Natalie Rimondi is of Newport and her date of birth is January 1984.
On 28 February 2017 Deputy District Judge T D C Jowett sitting at the County Court at Cardiff ordered that Natalie Rimondi should be disqualified from acting as a director for 6 years from 15 March 2017.
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
Persons subject to a disqualification order are bound by a range of other restrictions.
Further information about the work of the Insolvency Service, and how to complain about financial misconduct, is available.
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Published: 7 April 2017
From: The Insolvency Service