A broker who traded while insolvent and took money from her company for herself while failing to pay creditors £140,000 has been disqualified for seven years. Kathleen Shepherd, aged 58, from Southampton, was the sole director of Shepherd Site Services Limited, a company which acted as a broker to provide waste management services to the
A finance consultancy was entitled to €855,000 commission for its part in acquiring investment money for a large property development. That was the decision of the Court of Appeal in a case involving EMFC Loan Syndications and The Resort Group. The Group had engaged EMFC to assist it to raise financing of up to €130
Drax Power was entitled to withhold payment relating to one set of works to offset the cost of remedying defects in another set of works carried out by the same contractor. That was the decision of the High Court in a case involving Drax and Shepherd Construction Ltd. The issue arose after Drax engaged Shepherd
Two businessmen who breached their legal duties as company directors have been ordered to repay £600,000, even though the court accepted that one of them probably hadn’t realised that anything unlawful was happening. The case involved TMG Brokers Ltd, which had gone into liquidation. The liquidator applied for declarations under the Insolvency Act 1986 in
Two financial services directors have been disqualified for continuing to trade and take money from clients while their company was insolvent. Paul Rossi was a director of Independent Derivative Traders Ltd. The company traded as ‘Futex’ and provided access to a financial markets trading platform for sub-contracted independent traders. He was joined in the management
A firm of surveyors who secured a business rate reduction for a shop had provided a ‘claims management service’ and were entitled to payment in full as agreed in the contract. The issue arose after Bias Harrogate Ltd engaged RVA Surveyors Ltd to secure a reduction in the business rates it paid to the local
A company has lost $3m dollars because it had agreed to contradictory contract terms when entering into a purchase agreement. The case involved Septo Trading Inc, which contracted to import fuel oil supplied by Tintrade Ltd. The terms were recorded in an email confirmation (the Recap). A clause in the Recap stated that a quality
A construction company was entitled to immediate payment of £1m that it had been awarded by an adjudicator following a contract dispute. That was the decision of the Technology & Construction Court in a case involving Quadro Services Ltd and FP McCann Ltd The issue arose after McCann had been engaged to construct buildings for
A hotelier has lost an appeal over court costs because of uncertainty over how the Covid pandemic would affect its business. The case involved Engie Power Ltd, which supplied electricity to a hotel owned by Douglas Hospitality Ltd. A dispute arose after Engie cut off the supply in October 2019. Douglas claimed this was unlawful
A director who continued to run a company that did not generate revenue and ran up debts of £7m has been disqualified for seven years for failing in his duty to creditors. The case involved Arise Networks Ltd, now in liquidation after being wound up in 2016, and its sole director, Mr Obaigbena. The Official