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Neville Taylor, 57, has been disqualified for nine years for his involvement in a scheme to circumvent UK insolvency laws. He was paid over £250,000 by corporate rescue firm Atherton Corporate (UK) Ltd,…

News

Boss of 400 firms banned for insolvency scheme plot

Neville Taylor, 57, has been disqualified for nine years for his involvement in a scheme to circumvent UK insolvency laws. He was paid over £250,000 by corporate rescue firm Atherton Corporate (UK) Ltd, to become the sole director of more than 400 firms, including 12 that ceased trading but had not entered liquidation. 

 

When these companies eventually liquidated, over £7.6 million in assets were unaccounted for, despite initially holding assets worth £8.2 million. The Insolvency Service strongly condemned Taylor's actions, emphasizing that they will not tolerate individuals who evade their legal responsibilities as directors or facilitate schemes that undermine the insolvency system. Taylor's disqualification serves as a warning to those who may consider engaging in similar actions. They also stated that Taylor breached his duties by obstructing liquidators and failing to identify or recover company assets, causing significant losses to creditors and enabling ‘phoenixism’. 

 

As reported by the BBC, the ban prevents him from managing his existing companies and others across multiple UK locations.

Source:
https://www.bbc.co.uk/news/articles/c8j94np0193o


 

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