Case details for Jonathan Andrew COLE

Name: Jonathan Andrew COLE

Name: Cole Agriculture Limited

Date of Birth: 16 / 1 / 1963

Date Order Starts: 4 / 7 / 2019

Disqualification Length: 6 Years 0 Month(s)

CRO Number: 08659447

Last Known Address: High House Farm, High Common, , , Cranworth, IP25 7SX

Conduct: Jonathan Andrew Cole (“Mr Cole”) caused Cole Agriculture Limited (“the Company”) to enter into transactions on 13 September 2017 and 13 October 2017 that were to the detriment of a specific customer, causing that customer an ultimate loss of £71,156.80, in that

  • On 24 November 2016 the Company entered into a Debt Factoring Agreement.
  • In 2017 the Company entered into a verbal agreement to bale straw for a specific customer.
  • On 13 September 2017 the Company invoiced the customer for the gross agreement amount, less payments totalling £180,000 already paid on account, less a deduction for straw purchased, a final invoice total of £91,260.80. The invoice showed the Company’s bank details.
  • On 18 September 2017 the customer paid the Company £91,260.80 by direct debit.
  • On 13 October 2017 the Company entered into an agreement with the customer to supply the customer with straw to the value of £110,000, enabling the customer to satisfy a demand for that amount from the Company’s Debt Factors under the Debt Factoring Agreement dated 24 November 2016.
  • On 13 October 2017 the customer duly paid £110,000 to the Company’s Debt Factors.
  • On 8 December 2017 the customer’s Solicitors wrote to the Company demanding payment of £110,000, their customer having been advised that the Company did not have title to the straw pledged to their customer under the 13 October 2017 agreement.
  • At the date of liquidation on 29 May 2018, the customer had received a repayment of £24,868.20 and work to the value of £13,975.00, leaving it with an outstanding claim in the liquidation of £71,156.80. 

    This information is correct as at 14 / 6 / 2019

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