Case details for Peter Ian PARSONS

Name: Peter Ian PARSONS

Name: THE RACE CAR CENTRE LTD

Date of Birth: 30 / 5 / 1968

Date Order Starts: 21 / 3 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 09433827

Last Known Address: 24 Green Lane, , , , Colchester, CO4 0JA

Conduct: Peter Ian Parsons (“Mr Parsons”) caused or allowed The Race Car Centre Limited (“RCC”) to breach the terms of Chattel Mortgage without the chargeholder’s permission by causing or allowing RCC to transfer ownership, sell, or otherwise dispose of assets subject to secured charges, putting the funds beyond the reach of the secured creditor, in that: On 30 May 2019, RCC entered into Administration with outstanding secured charges totalling at least £827,000 due to finance providers. The Administrator has been unable to locate at least 36 assets used as security against finance provided by a secure charge holder. The assets in question had been removed, sold, or otherwise disposed of without the permission of the charge holders. 8 vehicles with an approximate value of £14,550 are subject to an ownership dispute with another company. No evidence has been provided to show that any benefit from the disposal of the assets has been received by RCC. Despite requests from the Administrator for evidence showing what happened to RCC assets, Mr Parsons has failed to adequately provide this. As a result of Mr Parsons’ actions, assets with a book value of at least £304,738 were not available to the secured charge holders, who were owed £827,000 at Administration. 

This information is correct as at 1 / 3 / 2022



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