A Torquay hotelier and company director has been disqualified from acting as a company director for six years for failing to maintain “proper books and records”.
Dr. Mahfouz El-Tawil, sole director of Trade Development and Investment Limited – which traded as the Oke Lodge Hotel in Exeter – was disqualified after an investigation by the Insolvency Service.
Trade Development and Investment Limited entered into Creditors Voluntary Liquidation (CVL) in April 2012 with liabilities of £105,521 and no assets.
The liquidator was unable to determine the “ the income and expenditure of the company or account for net payments to Dr El-Tawil of £174,205 and other unidentified payments of £24,223 in the period 1 May 2010 to 25 October 2011.”
The investigation found the company then operated without a bank account from 26 October 2011.
Robert Clarke, head of insolvent investigations north at the Insolvency Service, said: “Directors have a duty to make sure that their companies maintain proper accounting records, and, following insolvency, deliver them to the liquidator in the interests of fairness and transparency.
“Without a full account of transactions it is impossible to determine whether a director has discharged his duties properly, or is using a lack of documentation as a cloak for impropriety.
“Dr El-Tawil has paid the price for failing to do that, as he cannot now carry on in business other than at his own risk.”