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Hotelier banned for accounting failures 11 March 2014

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.”

 

 

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