Out of business (From Penarth Times)

Out of business

A PENARTH man has agreed to a four-year disqualification, as a result of unfit conduct whilst a director with the company Windymarsh.

On June 25 2002, the Secretary of State accepted from Mr Paul Andrew Porter of Dyfed, Northcliffe, Penarth, a disqualification undertaking for a total of four years.

A disqualification for eight years was accepted from Ronald Kenneth Porter of St Anthony Road, Cardiff, in respect of his conduct as a director of Windy-marsh and Stoutfellows.

With reference to Windymarsh, Paul and Ronald Porter caused Windy-marsh to continue Stoutfellows' business and adopt its liabilities to the detriment of the Crown and Windymarsh's trade creditors.

They also caused Windymarsh to set off debts owed to Gresham Internation-al Limited, against the sale price of Windymarsh's business to the detriment of Windymarsh's other creditors.

With regard to the affairs of Stoutfellows, Ronald Porter failed to ensure that Stoutfel-lows kept and maintained sufficient books and records as required by sections 221 and 22 of the Companies Act 1985. He also failed to ensure Stoutfel-lows complied with its statutory duty to submit VAT returns and remit VAT payments to HM Customs & Excise.

Windymarsh carried on business as wholesalers of alcoholic and other drinks from Atlantic Trading Estate, Barry, and a winding-up order was made against Windy-marsh on May 24 2001 with assets of £9,000 and liabilities of £97,875, an estimated total deficiency as regards creditors of £88,875. No payment was made to unsecured creditors.

Stoutfellows also carried on business as wholesalers of alcoholic and other drinks from the same premises. The firm entered into liquidation on 7 June 2000 with an estimated total deficiency as regards creditors of £60,261 and nil assets. No payment was made to any unsecured creditors.