Case details for Richard Charles DEVINE

Name: Richard Charles DEVINE

Name: HPR Stoke Limited

Date of Birth: 17 / 2 / 1959

Date Order Starts: 16 / 4 / 2019

Disqualification Length: 6 Years 0 Month(s)

CRO Number: 09680820

Last Known Address: 5 Meadow Grove,, , , , GRANGE-OVER-SANDS,, LA11 7AT

Conduct: On 30 August 2016 the majority shareholder of HPR Stoke Limited (“HPR”) cancelled the buildings and public liability insurance policy it held over its trading premises (“the premises”). On 30 August 2016 Richard Charles Devine (Mr Devine), sole director of HPR, caused or allowed HPR to provide to the landlord of the premises an insurance document that showed that this insurance policy was valid, which enabled HPR to enter into a new lease of the premises. On 31 August 2016, he became aware that the insurance policy had been cancelled and on 06 September 2016 he signed the new lease on behalf of HPR. The lease included the requirement that HPR have valid insurance so HPR was in breach of the terms of the lease. As a result the landlord was at risk of financial loss due to the premises not being insured and there was ultimate detriment when there was a fire at the premises on 16 February 2017.

  • HPR operated as a recycler of plastic. On 08 July 2016, HPR took out an insurance policy using the services of an insurance broker to cover the building for £3,450,000 at a cost of £87,326 per annum. HPR made five failed payments towards this policy between 27 July 2016 and 08 August 2016. One payment of £3,380 cleared the bank on 22 August 2016.
  • HPR’s landlord requested that HPR take out a new lease which placed the responsibility on HPR to insure the premises and have a public liability policy,
  • On 30 August 2016, the majority shareholder of HPR cancelled the insurance policy. He has confirmed that this was because HPR had insufficient funds to meet the monthly premiums. No further insurance policies were entered in to by HPR. HPR ceased to trade in September 2016.
  • He notified The Insolvency Service that he became aware the insurance policy had been cancelled on 31 August 2016.
  • On 30 August 2016 the landlord’s solicitor received a copy of the insurance policy that had been cancelled on 30 August 2016, from HPR’s solicitors under instruction from the majority shareholder of HPR.
  • On 06 September 2016 he signed the new lease on behalf of HPR. The landlord has confirmed that they would not have entered into this lease had they known this insurance document was not valid.
  • The landlord became aware that there was no insurance in place some time between the middle of October 2016 and the start of November 2016.
  • He has stated that after HPR had ceased to trade and while in occupation of the trading premises efforts were made to sell HPR’s assets but these were unsuccessful. During the period 06 September 2016 and 17 February 2017, HPR paid £25,697 from its bank of which £4,038 was paid to him while no rent payments were made.
  • On 05 February 2017 there was a fire at HPR’s trading premises which destroyed the building and left the landlord exposed to the costs of a full rebuild. 

    This information is correct as at 27 / 3 / 2019

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