05.07.2004

Bridgend scaffolding firm collapses

Thomas Walker (62) a director of Industrial Services Group ltd, a Bridgend based scaffold erecting company that failed in late May with a total deficiency estimated at around £1,183,000 has given an Undertaking not to hold directorships or take any part in company management for 4 years.

The Undertaking was given in respect of his conduct as director of Industrial Services Group Limited ("ISG"), which carried on business from premises at 10 Heol Mostyn, Village Farm Industrial Estate, Pyle, Bridgend CF33 6BJ

Acceptance of the Undertaking on 25 May 2004 prevents Thomas Walker from being a director of a company or, in any way, whether directly or indirectly, being concerned or taking part in the promotion, formation or management of a company for the above period.

Matters of unfit conduct, not disputed by Thomas Walker were that:
1. He allowed ISG to make payments totalling £413,910 for the benefit of Mr M A Richards and Mrs N J Richards (who were also registered directors of ISG) when he knew or should have known that ISG was making losses and was not paying its liabilities to the Inland Revenue when they became due.
2. He caused ISG to trade to the detriment of the Inland Revenue

The Insolvency Service, on behalf of the Secretary of State for Trade & Industry, has responsibility (under Section 6 of the Company Directors Disqualification Act 1986) for the investigation of the conduct of directors of failed companies and for the disqualification of those who are considered to be unfit to be involved in the management of companies in the future.
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