A director of more than 400 companies has been disqualified for nine years after he was found to have repeatedly undermined the insolvency regime.
The Insolvency Service said Neville Taylor, 57, was paid more than a quarter of a million pounds by Atherton Corporate (UK) Ltd to replace the directors of 12 companies which had ceased trading but had not entered liquidation.
These were Abode D&B Ltd, Bryanston Logistics Limited, Kiln Garden Ltd, M&G Olympic Products Limited, Necto Build Ltd, Prestek Services Ltd, Rohani Limited, S Consult Ltd, Stoke Park Developments Ltd, Swagger Home Furnishings Ltd, Tier One IT Ltd and Woden Park Limited.
They traded in sectors such as IT, construction, human resources, education, farming and water treatment before they ran into financial difficulties.
In each of the 12 companies, Taylor made little or no attempt to verify information relating to their affairs, including securing records and assets, breaching his duties as a company director.
More than £7.6 million in assets across the 12 companies could not be accounted for at the date of insolvency.
He will have to step down as director of at least 196 companies from his correspondence address in Kington, Herefordshire, and will also no longer be able to act as director of more than 250 companies with correspondence addresses in Telford, Wakefield and Dunfermline.
“Neville Taylor hampered efforts by liquidators to identify assets, caused a widespread loss to creditors and breached his duties as a director to act in the best interest of the companies and creditors,” said Dave Magrath, director of investigation and enforcement services at the Insolvency Service.
“He also accepted that his conduct was part of a scheme designed to subvert and undermine insolvency legislation.
“Taylor made inadequate attempts to identify and locate millions of pounds of assets, to obtain company records, or to make himself aware of the companies’ trading.
“At the same time, he was paid by Atherton Corporate (UK) Ltd to enable this scheme.
“By disqualifying Taylor, we are making it clear that we will not tolerate those who avoid their legal duties as directors or seek to enable phoenixism.”
Atherton Corporate (UK) Ltd was liquidated in the public interest in August 2024 along with connected company Atherton Corporate Rescue Limited.
Five associated companies, three of which listed Taylor as a director, were also shut down after they supported the scheme by buying the distressed companies and appointing new directors.