The Harry J All Stars - Liquidator (cover)

This podcast discusses a case concerning the fraudulent and wrongful trading of two furniture retail companies, Stacks and Staffs, both controlled by Mr. Balvinder Shergill. The case focuses on claims made by liquidators against Mr. Shergill and Miss Miranda Smith, a director of Staffs, for actions that defrauded creditors, primarily Stafford Borough Council, by failing to pay National Non-Domestic Rates Tax. The court found Mr. Shergill liable for fraudulent trading and both Shergill and Smith liable for wrongful trading and misfeasance. Mr. Shergill used these companies to avoid paying taxes, and the court addressed payments made to the directors personally or for their benefit. Ultimately, the court ordered financial contributions from both Mr. Shergill and Miss Smith to compensate for the losses incurred by creditors and the cost of liquidation, and refused Miss Smith's application for relief under section 1157 of the Companies Act. The judge's conclusions were based on witness testimony, documentary evidence, and the established pattern of Mr. Shergill's actions involving multiple companies.

New tracks tagged #Liquidator