Case details for ALEX SEFOLLI

Name: ALEX SEFOLLI

Name: VECONSTRUCTION LIMITED

Date of Birth: 5 / 11 / 1979

Date Order Starts: 7 / 1 / 2019

Disqualification Length: 8 Years 0 Month(s)

CRO Number: 07064445

Last Known Address: 99 Clarence Avenue, , , , NORTHAMPTON, NN2 6NY

Conduct: 1. Between 1 February 2016 and 8 March 2016 Alex Sefolli (“Mr Sefolli”) caused Veconstruction Limited (“VL”) to make payments at a time when he knew or should have known that the company was insolvent and unable to pay its debts as and when they fell due. The payments included £346,900 paid to benefit an associated company and £50,000 paid to a connected company which would have been to the detriment of VL’s creditors, in that: - Insolvency

  • On 7 April 2015 the liquidator of a company with whom VL had a working partnership demanded an amount totalling £470,000 under S (127) (1)). This was later reduced to £332,000 following representations from VL;
  • 5 October 2015 an application was issued in the High Court for the repayment of £332,824;
  • County Court claim issued on 5 August 2015 by a trade creditor in the sum of £8,781
  • County Court claim issued on 23 September 2015 by a trade creditor in the sum of £7,740;
  • County Court claim issued on 15 January 2016 by a trade creditor in the sum of £8,768;
  • None of the above was paid. Transactions to the detriment The following bank transfers were made to a bank account belonging to an associated company: - a) On 16 December 2016 the associated company had filed dormant accounts for the period 17 March 2015 to 31 March 2016; b) On 1 February 2016 a transfer amounting to £135,500 was made with the details “Invoice 1 and 2” c) On 1 February 2016 a transfer amounting to £35,000 with the details “Reindeer Invoice 1”; d) On 3 February 2016 a transfer amounting to £25,400 with the details “Invoice GM” e) On 26 February 2016 a transfer amounting to £151,000 with the details “Grafton Underwood” The following bank transfers were made to a connected company where a relative of his was the only director; a) On 1 February 2016 a transfer was made in the sum of £50,000 2. Alex Sefolli (“Mr Sefolli”) failed to ensure VL complied with its statutory obligations to declare CIS deductions due to H M Revenue & Customs (“HMRC”) in the period 6 April 2014 to 5 April 2016 in that: -
  • HMRC reviewed the subcontractor records following the appointment of the liquidator and determined that in the period 6 April 2014 to 5 April 2015 amounts totalling £353,880 was paid to subcontractors resulting in a liability of £70,776 due under the CIS scheme;
  • In the period 6 April 2015 to 5 April 2016 amounts totalling £867,235 were paid to subcontractors resulting in a liability of £173,447 due under the CIS scheme;
  • HMRC informed the liquidator that from the records it was evident that the company filed nil CIS300 returns knowing they were incorrect. In this respect HMRC raised penalties amounting to £162,408. 

    This information is correct as at 9 / 1 / 2019



    If you believe this page contains any errors, please email civil.proceedings.team@insolvency.gsi.gov.uk with details of the error that you have found.

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