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22.03.2016

Crane owner barred

Christopher John Etheridge, 50, the owner of UK based D & R Pike Crane Hire has been disqualified from being a director for six years.

The order follows the final bankruptcy and liquidation of the business last year, after trading while insolvent for four years. The UK Insolvency Service investigation found that by October 2011, D & R was unable to pay its liabilities of at least £77,036 as they became due.

HM Revenue & Customs were owed at least £18,036, for VAT and taxes, with the last payment towards VAT being made in January 2010. At least six other creditors were pressing for payments and a County Court judgement for £3,933 was awarded against the company in September 2011. At least 17 cheques, with a combined value of £8,161.17 had bounced, while 21 direct debits or standing orders totalled £6,770.74.

In spite of this Etheridge continued to trade, knowing full well that there was no possibility of the company covering its liabilities, as result these increased from at least £77,000 in October 2011 to an estimated deficiency of £135,733 when liquidated last year, following a final winding up order in January 2015.

The situation was exasperated, when in August 2013 he transferred the company’s only crane - its principle tangible asset to an associated company for less than it was worth and leased it back to D & R.

Etheridge was also a director of Mobile Cranes Ltd which also closed, his co-director and the owner of that company, Emma Jayne Savage also owns Crane Hire South East – previously Savage Crane Hire.

Andrew Stanley of The Insolvency Service, said: There can be no doubt that Mr Etheridge was aware of D & R’s insolvency, nevertheless he chose to ignore this and expose unsuspecting creditors to the risk of continuing to trade for a further four years. Whilst promising suppliers payments, he personally benefitted from the income of D & R and the protection that limited liability afforded him. Limited liability is a privilege that should not be abused and directors should note that should they do so, the Insolvency Service will take appropriate action to remove them from the business community”.

Comments

savage cranes ltd savage
Emma-Jayne Savage has no connection with Christopher John Etheridge and has not since 2008 when he was asked to resign his directorship for misappropriating company funds.

Mar 24, 2016

savage cranes ltd savage
SAVAGE CRANES LIMITED.
Mr Christopher John Etheridge has no connection with Savage Cranes Ltd.
Christopher John Etheridge has not ever and will not in the future be a company director of Savage Cranes Ltd.
Savage Cranes Ltd has had no connection, contact, trading history or dealings with D R Pike Crane Hire Ltd
Savage Cranes Ltd has never employed Christopher John Etheridge and his activities and those of D R Pike Crane Hire are not the concern of Savage Cranes Ltd.

Mar 24, 2016

D S
This man embezzled our company of over £400,000 until he was discovered and fired an officer from the fraud office said, after seeing the evidence (still in existence), if it were up to him he would be arrested and charged with immediate effect. Six years have passed and what's happened?
Nothing.
And the man continues to operate a 7 tonne Tadano in shocking condition from a stable yard in Kent with no planning consent pays no business rates and working fort cash.
No one in authority wants to mknow

Mar 23, 2016