Tuesday, July 7, 2020

Lincolnshire director banned for dishonestly securing credit

A Lincolnshire-based director who dishonestly secured credit by causing her company to submit false invoices to factoring companies is banned for 9 years.

Factoring companies purchase invoices from a business as a way of providing credit. It is common practice for the company director to personally guarantee all funds advanced.

Deborah Mary Fisher (50) of Spalding, Lincolnshire was the director of NJ Transport Limited, a haulier based in Weston Hills.

Over two years between January 2016 and March 2018 she caused NJ Transport to submit false invoices to a factoring company totalling £425,500. The factoring company realised the invoices were false when NJ Transport was preparing to enter Creditors Voluntary Liquidation in March 2018.

When the factoring company tried to recoup money from Deborah Fisher personally under her guarantor agreement, she declared herself bankrupt in May 2018.

Fisher has been disqualified and banned from directly or indirectly becoming involved in the formation, promotion or management of a company without permission of the court.

Deborah Fisher signed a 9-year disqualification undertaking.

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