Maximum 15-Year Ban For Fake Insolvency Practitioner
A Judge has ordered that the Director of Public Prosecutions consider criminal prosecution against a fake insolvency practitioner, while accomplice receives separate 11-year ban.
The infamous Kevin Morris, also known as Kevin Gordon Sykes, 61, has been disqualified for the maximum 15 years after he was found to be a de facto director of Rigil Kent Acquisitions Limited (“RKAL”), while disqualified from acting as a director, as well as deliberating undermining the insolvency regime.
Breaching a disqualification is a criminal offence and Kevin Morris’ latest director disqualification has been passed to the Director of Public Prosecutions to consider further action.
RKAL, which was established in 2015, presented itself as a turnaround or recovery service and promised companies in financial difficulties that it would enable them to eliminate business debts and avoid formal insolvency proceedings.
The Insolvency Service says that Kevin Morris would suggest to company directors that they could walk away from any further financial or legal responsibility in the company.
RKAL was closed down by the Insolvency Service in February 2018, being placed into Compulsory Liquidation, along with eight associated entities, and an investigation was launched.
Unlicensed Insolvency Practitioners
Under Section 389 of the Insolvency Act 1986 it is an offence to act as an Insolvency Practitioner when not qualified to act in that role. Section 389(1) of the Insolvency Act 1986 says:
A person who acts as an insolvency practitioner in relation to a company or an individual at a time when he is not qualified to do so is liable to imprisonment or a fine, or to both.
Acting as an Insolvency Practitioner is a position set out in Section 388 of the Insolvency Act 1986.
RKAL’s website described the company in a somewhat curious light, promoting itself as ‘unlicensed Insolvency Practitioners’.
It is reported by the Insolvency Service that the company website said that RKAL would:
“discuss options such as Corporate Rescue Sale, a Company Voluntary Arrangement or a Scheme of Arrangement all of which we will implement for you taking the worry off your shoulders.”
However, according to the Insolvency Service’s investigations, there was no evidence of this.
Kevin Morris it seems has been rewarded financially from RKAL but no money returned to creditors, including but not limited to those of the distressed companies RKAL obtained.
According to documents filed at Companies House, the sole director of RKAL was Nataliia Fox. She was said to be acting under Mr Morris’ instruction. She has been disqualified for 11 years, for allowing the company to trade as it did, and allowing Kevin Morris to act as a director while knowing he was disqualified.
Insolvency Service Comment
Jo Caswell, Deputy Official Receiver said:
Kevin Morris claimed to be an unlicensed insolvency practitioner, a role that does not exist. As the Court has found, he created a nefarious scheme for the purpose of subverting the insolvency system for his own financial gain, and he flagrantly breached his previous disqualification in doing so.
The Insolvency Service will not hesitate to act in protecting the public from commercially immoral business practices, winding up those corporate vehicles utilised and taking action against their directors. Kevin Morris now faces a further maximum period of disqualification and may also face criminal sanction for his actions.
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