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Company Director Banned for Nine Years in UK Insolvency Scheme

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INSOLVENCY,UK,COMPANY DIRECTOR

Neville Taylor, 57, was banned from being a company director for nine years after being found to have played a key role in a scheme designed to undermine the UK insolvency system. Taylor was paid by a corporate rescue firm to become the sole director of 12 companies that had ceased trading but not yet entered liquidation. When these firms eventually entered liquidation, more than £7.6m in assets was unaccounted for. Taylor had been paid more than £250,000 by Atherton Corporate (UK) Ltd to become the sole director of over 400 companies.

Neville Taylor was listed as director of 196 companies run from Bridge Street in the town of Kington in Herefordshire

Neville Taylor, 57, was paid by a corporate rescue firm to become the sole director of 12 companies which had ceased trading but not yet entered liquidation. Dave Magrath, director of investigation and enforcement services, said Taylor, from Kington, Herefordshire, accepted his role in "a scheme designed to subvert and undermine insolvency legislation".

He will now have to step down as director of those companies, as well as more than 250 more with correspondence addresses in Telford in Shropshire, Wakefield in Yorkshire and Dunfermline in Fife.

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