Case details for Aidan Mark NEWMAN

Name: Aidan Mark NEWMAN


Date of Birth: 14 / 2 / 1971

Date Order Starts: 25 / 12 / 2018

Disqualification Length: 6 Years 0 Month(s)

CRO Number: 09425493

Last Known Address: 5 Greenside Cottages, The Green, , , RIPLEY, GU23 6AJ

Conduct: At a time when Montrose Design & Build Limited (“Montrose”) was insolvent, Mr Aidan Mark Newman (“Mr Newman”) caused Montrose to trade and/or undertake transactions at the unreasonable risk of creditors, causing losses to creditors who have claimed at least £390,691 in the liquidation.

  • On 25 August 2016 HMRC wrote to Montrose requesting payment of £24,060 to avoid legal proceedings, which remained outstanding at liquidation.
  • Montrose was insolvent from at least 4 September 2016 when Montrose approached an insolvency professional regarding a proposal of a Company Voluntary Arrangement (“CVA”). Montrose disclosed liabilities of £47,611 and provided an income expenditure analysis indicating that Montrose could make CVA contributions of £700 per month.
  • From 4 September 2016 to 19 December 2016 Montrose accepted payments totalling at least £193,966 from a total of eight customers with claims in the liquidation totalling £316,691, most of which was paid in cash.
  • Montrose’s bank statements for the period from 4 September 2016 to liquidation on 26 January 2017 show net receipts of £128,091, which is less than the amount received from eight customers during this period. Montrose made net payments out of its account totalling £129,151, of which £63,075 was paid for trade expenses, £35,640 was withdrawn as cash, £17,409 was paid to him and £2,790 was paid to connected party.
  • On 24 November 2016 he again discussed Montrose’s financial position and options available with an insolvency professional. £61,163 was received from four customers after this date.
  • Montrose ceased trading on 23 December 2016. 

    This information is correct as at 6 / 12 / 2018

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