Case details for Jon Benjamin WILLOUGHBY

Name: Jon Benjamin WILLOUGHBY

Name: Marlowe Estates Limited

Date of Birth: 19 / 3 / 1982

Date Order Starts: 21 / 3 / 2022

Disqualification Length: 5 Years 0 Month(s)

CRO Number: 08984596

Last Known Address: 7 Fairlawn Close,, , , , Teston,, ME18 5AX

Conduct: Jon Benjamin Willoughby (“Mr Willoughby”) caused the company to make 2 transactions totalling £38,672 to the detriment of creditors generally when he knew or ought to have known that the company was insolvent, as follows: • On 4 May 2020, he on behalf of the company applied for and obtained a Bounce Back Loan (“BBL”) from the company’s banker. Management accounts extracted from the company’s electronic accounting records show that as at 4 May 2020 the company made a net loss of £46,855 and it was balance sheet insolvent at £285,872. • The BBL funds were dispersed to the company by the company’s banker on 14 May 2020. The company’s bank account was overdrawn by £9,667 prior to the receipt of BBL funds and it was in credit of £40,333 after receiving the funds. • On 15 May 2020, £24,215 was transferred to an associated company and £14,457 was transferred to a financial institution, leaving an available balance of £1,662. He stated both payments were towards full settlement of the 2 loans made to the company by the associated company. • On 17 June 2020, he sought insolvency advice from the Insolvency Practitioner in relation to the company’s business and financial affairs. He was advised that the company was insolvent. The company ceased to trade on 25 June 2020. The resolution to place the company into liquidation was passed on 3 July 2020. The Statement of Affairs signed by him shows that as at 24 June 2020 the company had a deficiency as regards creditors of £317,140. 

This information is correct as at 1 / 3 / 2022

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