The Insolvency Service has confirmed the Department of BIS is seeking the disqualification of a director after the company of which he was a director collapsed.
Aerospace & Technical Engineering Limited collapsed in January 2008. Since then, the conduct of company director Robert Philip Feld has been the subject of a court case brought by Vince Cable, the Secretary of State for Business, Innovation and Skills.
In an official statement, issued by The Insolvency Service, Mr Feld is said to be defending the proceedings which were issued under Company Director Disqualification Act (1986) back in January 2010.
The trial was first scheduled for May 2012 but was adjourned on the application of Mr Feld to allow for further evidence. The trial was rescheduled to commence on 12 March but the High Court has ordered a further adjournment at the request of Mr Feld on the basis that he continues to abide by the voluntary undertaking he provided to the Court in May 2012.
That undertaking stated that until the final determination of the proceedings or further Court order Mr Feld will not do the following:
“Be a director of a company, act as a receiver of company’s property, act as an insolvency practitioner, or in any way, whether directly or indirectly, be concerned or take part in the promotion, formation or management of a company unless (in each case) he has leave of the court.”
Disqualification undertakings were introduced in April 2001, they are the administrative equivalent of a disqualification order but do not involve court proceedings.
Without specific permission of a court, a person with a company directors disqualification, including undertakings, cannot act as a director of a company; take part, directly or indirectly, in the promotion, formation or management of a company; be a liquidator or administrator of a company; or be a receiver or manager of a company’s property.