Terence Shane Hutchinson, of West End Avenue, Harrogate, escaped jail at Harrogate Magistrates Court after pleading guilty to breaching bankruptcy law, by putting assets beyond the reach of his creditors.
On January 4 last year, Hutchinson, a director of Clean-It Contracts in Harrogate, was made bankrupt for debts exceeding £146,000 that he could not pay.
The official receiver investigated his bankruptcy and discovered that between his house being sold on October 20 2009, and him being made bankrupt on a creditors petition on January 4, he disposed of £58,540 to the detriment of his creditors while he was insolvent.
The court heard that while he had outstanding judgements against him, he spent nearly £22,000 - the proceeds from the sale of his house - on a holiday in London, a school skiing trip for his daughter and a BMW X5.
Hutchinson was sentenced to four months imprisonment – suspended for 12 months. He must complete 240 hours of unpaid work as part of a 12-month community order and must pay a contribution to prosecution costs of £750.
Hutchinson signed a nine-year bankruptcy restriction undertaking in August 2010, extending the restrictions beyond the normal 12 months.
The hearing followed investigations by The Insolvency Service and The Department of Business Innovation and Skills.