Insolvency Service

Company insolvencies in Scotland have dropped 8% in November 2023 when compared to November 2022, according to the latest statistics published by the Insolvency Service. This November there were 109 company insolvencies registered in Scotland. This was comprised of 30 compulsory liquidations, 7

The Insolvency Service (IS) has ceased its pursuit of five former Carillion non-executive directors dropping the case last week just hours before a High Court test case was set to begin.

Richard Adam, who served as group finance director for Carillion plc from 2007 to 2016, has been disqualified for a period of 12.5 years.

The former finance director of construction outsourcing firm Carillion, Zafar Khan, has been disqualified from acting as a company director for the next 11 years due to his role in misrepresenting the firm's financial health and sanctioning unwarranted dividends. The ban was confirmed by the Insolve

A Scottish director has been given a ten year ban over a £50,000 Bounce Back Loan taken out by his firm in 2020.

A Dunbartonshire company director has been disqualified for eight years following his firm's misconduct, after it instigated a near 200 million automated calls and failed to pay a £500,000 fine. In 2018, Stephen Foote's firm, CRDNN Limited, contravened regulation 19 and 24

A business consulting director has been given an eight-year ban after he failed to keep accounts and was unable to account for company’s finances, including income of more than £63,800 and assets of more than £137,000. Steven David Hutton, 47, from Glasgow, was the sole director of

Two Glasgow company directors have received disqualifications after each falsely claimed loans for their companies, taking over £125,000 in taxpayer support that they were not entitled to.

Liam Mccreadie, 26, a call centre boss from Aberdeen, has been disqualified as a director for 4 years after failing to pay more than £1.1 million in taxes and not submitting tax returns for his two companies.

A director of three property management companies based in Glasgow has been disqualified as a director for 12 years after using his companies to take out Bounce Back Loans totalling £135,000 that the companies were not eligible for. Brendan Michael Gaughan, 40, was director of Gaughan Group Lt

A former NHS nurse who was the director of a health and wellbeing company has been disqualified as a director for 10 years after fraudulently claiming a £30,000 government Bounce Back Loan (BBL). Monica Coyle, 51, from Kilmarnock, was director of Positive Pulse Limited, a health and wellbeing

The Insolvency Services has been using new powers to tackle fraudulent use of Covid loans. Several directors have been banned in the last month after investigations showing misuse of Covid loan money.

A takeaway boss who abused Covid-19 support schemes, wrongly claiming £50,000 of taxpayer support, has been banned from being a company director for seven years. Ifraz Nabi, 41, was disqualified as a director for seven years after claiming £30,000 through the Eat Out to Help Out scheme a

The UK is expected to become the first large European economy to reach pre-pandemic levels of corporate insolvencies as COVID-19 crisis support is wound down and rising levels of inflation threaten firms. According to credit insurer Allianz Trade, corporate insolvencies will soar by 37% this year. T

Over the next five years, the Insolvency Service is set to transition to regional centres, reducing the number of offices whilst maintaining high standards of customer service and delivering better value for money. To enhance value for money for the taxpayer whilst maintaining excellent customer ser