George Beattie (senior), signed a seven year disqualification undertaking on the 12 April 2017; Michelle Beattie signed a three years and six month disqualification and George Beattie (junior) was disqualified on 31 May 2017.
After the Glasgow-based company was placed into liquidation in April 2015, an investigation by the Insolvency Service revealed the directors had continued to trade to their own benefit in full knowledge that HMRC had presented a winding up petition to Court on 14 January 2015 and the company's liquidation on 20 April 2015.
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However, the directors made net payments of at least £155,310.45 to the benefit of connected parties and further offset liabilities due to the company from the directors and connected companies of at least £457,395.72 against unverified charges to the detriment of creditors as liabilities increased by at least £359,097.33.
Rob Clarke, Head of Insolvent Investigations North, part of the Insolvency Service, said the case was a "cynical attempt" by the directors "to extract money that should have been paid to other creditors".
"The Insolvency Service will take robust action against this sort of misconduct which is a clear abuse of limited liability," he said.
(LM)
