The Insolvency Service launched an investigation into the whereabouts of sale proceeds after the Dalziel Park Hotel was placed into liquidation.
Anthony Rea and Nadia Wright, who used to run the Dalziel Park Hotel in Motherwell, went on the run to try and hide their whereabouts from the Insolvency Service investigation.
At the time of the company’s liquidation on 1 August 2008 it was estimated that it owed it’s creditors £269,593.00.
Rea and Wright failed to keep company accounts and as such it has not been possible for investigators to establish if transactions for Rea Property and Developments Limited were legitimate.
However, bank record show that following the sale of the company’s asset in May 2007, sums totalling £1,574,720, were paid to an associated company between 5 June 2007 and 26 November 2007.
The directors also withdrew cheques totalling £754,000 from the company bank account between 21 September 2006 and 22 January 2007;
The transactions were to the detriment of the company’s creditors which at March 2008, were owed the total sum of £80,294.
The Insolvency Service said that their conduct had been “unfit” as directors and the banning order had been made in the public interest. Neither Rea or Wright turned up in court to defend their disqualification orders and refused to co-operate.
The Insolvency Service said: “The disqualifications made in their absence should offer the public and other company directors reassurance. If you run a business in a dishonest and reckless way The Insolvency Service will remove you from the world of business.”