A key figure in a scheme designed to undermine the insolvency system has been banned as a company director for nine years.
Neville Taylor, 57, was paid more than a quarter of a million pounds by Atherton Corporate (UK) Ltd to become the sole director of more than 400 companies.
Taylor’s disqualification means he will have to step down as director of at least 196 companies from his correspondence address of Bridge Street, in the town of Kington in Herefordshire.
He will also no longer be able to act as director of more than 250 companies with correspondence addresses in Telford, Wakefield and Dunfermline.
Dave Magrath, Director of Investigation and Enforcement Services at the Insolvency Service, said:
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.
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.
Taylor was disqualified for his conduct as director of the following 12 companies:
- 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
- Woden Park Limited
All of the companies, with the exception of Necto Build, filed accounts at Companies House and traded in sectors such as construction, human resources, education, farming, IT and water treatment before they ran into financial difficulties.
Taylor became sole director of the companies at various points between April 2022 and March 2023 after they had ceased trading but before they entered liquidation.
Insolvency Service analysis of bank statements revealed Taylor was paid £266,914 by Atherton Corporate (UK) Ltd to perform this role.
The companies had combined assets of £8,278,912 according to their final filed accounts.
By the time the companies entered liquidation with Taylor at the helm, their estimated assets stood at only £676,169, a decrease of more than £7.6 million.
Indeed, no assets were identified for Kiln Garden, M&G Olympic Products, Necto Build, S Consult, Stoke Park Developments and Swagger Home Furnishings.
Assets of under £1,000 were identified for each of Abode D&B, Bryanston Logistics, Prestek Services and Tier One IT.
The Secretary of State for Business and Trade accepted a disqualification undertaking from Taylor, and his ban started on Friday 3 January.
The undertaking prevents him from being involved in the promotion, formation or management of a company, without the permission of the court.
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.
