A builder from Glasgow has been banned from applying for loans or acting as a company director for seven years after he broke the terms of his bankruptcy agreement.
John Henry, 45, was brought before Stirling Sheriff Court accused of continuing to trade despite being declared bankrupt. A major investigation was launched into Mr Henry and his construction business by Accountant in Bankruptcy (AiB), which is the insolvency agency for the Scottish Government, and a number of fraudulent activities were revealed.
Mr Henry was found to have used a variety of methods and a number of different company names to keep his business going, even though he himself had been declared bankrupt in 2009 due to his inability to tackle his debt problems. He was also found to have neglected his tax obligations for his employees, as well as failing to keep accurate business records.
A spokesperson for the AiB said:
“Mr Henry was declared bankrupt in 2009. However, he continued to trade when he knew or ought to have known that he was unable to pay his debts, incurring over £100,000 of additional credit over a four-month period.
“Mr Henry had continued trading in the construction industry across the west of Scotland while using a variety of different company names. As a result of his misconduct many businesses, organisations and consumers may have suffered financial hardship.”
As part of an unprecedented Bankruptcy Restriction Order, the court told Mr Henry that he could not head up a company nor apply for a loan for at least seven years.
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