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Hospitality directors in the pits 12 September 2013

Two corporate hospitality directors have been disqualified from acting as company directors for a total of 18 years following an investigation by The Insolvency Service.

Siobhan Billson and Glen Harrod of Virtuosi Limited were disqualified for failing to deliver tickets for high profile concerts and sporting events – including the Abu Dhabi, Monaco and Qatar Grand Prix.

The investigation found that Billson and Harrod allowed Virtuosi Limited to continue trading despite being insolvent.

Tickets were sold to customers worth at least £386,271, including £223,742 for the three Grand Prix events and unauthorised tickets to Olympic events worth £61,685, which they could not deliver.

Ken Beasley, an official receiver at the Insolvency Service said: “This company claimed to be able to supply tickets to high profile events, in some cases without the requisite authority to do so, but failed to do so after taking money from customers.

“The company cynically exploited and disappointed customers, some of whom paid thousands of pounds for goods and services which had been promised to them.

“Ms Billson’s and Mr Harrod’s behaviour fell far below that expected of responsible directors of a limited company and the two are now facing the consequences.”

The pair also failed to maintain adequate accounting records for these sales and could therefore not explain to the liquidator how the money was spent when Virtuosi went into liquidation.

The investigation showed that although Billson resigned as a director of the company in March 2011, it was “apparent that she continued to play an active role in the company’s affairs”.

Virtuosi Limited was wound up following the presentation of a petition by one of its suppliers on 14 November 2011 and was found to have liabilities of more than £682,365.

 

 

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