Case details for Steven Edwin PROSSER

Name: Steven Edwin PROSSER

Name: Sell Your Car With Us Limited

Date of Birth: 25 / 5 / 1961

Date Order Starts: 11 / 8 / 2021

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 10192699

Last Known Address: THE DELL, 24 MONSON ROAD,, , , , BROXBOURNE,, EN10 7DY

Conduct: Between 20 March 2019 to the date of liquidation, Steven Edwin Prosser (“Mr Prosser”) failed to ensure Sell Your Car With Us Limited (“SYCWU”) adhered to the terms and conditions contained within its Sale or Return Agreements (“Agreements”) in respect of Sellers’ vehicles. As a result, SYCWU sold at least 47 vehicles but failed to remit the agreed amounts to Sellers and failed to return or disclose the whereabouts of at least 1 vehicle. At the date of liquidation, these 48 Sellers submitted claims totalling £751,440.04 • SYCWU entered into Agreements with Sellers whereby vehicles were sold by SYCWU acting as a Dealer on behalf of the Sellers on a sale and return basis. The Agreements signed by Sellers show that SYCWU agreed to hold any proceeds from the sale of vehicles in trust for the Sellers, less disbursements, commission and VAT. The agreements stipulated that SYCWU would make payment to the Seller within 14 days of the completed transaction. • The liquidator has identified at least 48 Sellers who placed vehicles for sale with SYCWU, and that such vehicles had been sold or otherwise disposed of, without any proceeds from such sales/disposals being paid to the Sellers, or the vehicles being returned to the customers upon request to do so, in breach of the terms and conditions stipulated in the Agreements. • At least 33 invoices for the sale of the Sellers’ vehicles were located by the Liquidator within the books and records of SYCWU. • An analysis of SYCWU’s bank statements identifies payments received into the bank account in respect of at least 20 of the 33 vehicles Each deposit being so identified as it bears the reference of the relevant car registration number. These receipts total £347,699.87. • Of these 33 vehicles, 2 were sold after he had met with an Insolvency Practitioner and when he therefore knew that SYCWU was insolvent. SYCWU received payment in respect of the sales totalling £26,385.90. • Despite evidence showing the 33 vehicles had been sold, no payments were then made to the respective Sellers as per the terms and conditions of the Agreements resulting in claims at liquidation of £510,421.42 • At least 9 Sellers have been identified who placed vehicles for sale with SYCWU, where no invoices for the sale of the vehicles were located by the Liquidator within SYCWU’s books and records but where an analysis of SYCWU’s bank statements identifies receipts into the company’s bank account in respect of their sale. Each receipt being so identified as it bears the reference of the relevant car registration number. These 9 receipts total £133,259 • Despite evidence showing that the 9 vehicles had been sold, no payments were made to the respective Sellers of the vehicles as per the terms and conditions of the Agreements resulting in claims at liquidation of £135,240.52 • At least 5 Sellers have been identified who placed vehicles for sale with SYCWU where no invoice for sale or bank receipt for the vehicle’s sale has been located but the Liquidator has identified these were sold/transferred to third party buyers for sums totalling £110,559.59. Despite evidence showing that the 5 vehicles were sold or transferred, no payments were made to the respective Sellers as per the terms and conditions of the Agreements resulting in claims at liquidation of £92,972.10 • One further Seller has been identified by the Liquidator who placed a vehicle for sale with SYCWU where no invoice for sale or bank receipt for the vehicle’s sale has been located. The whereabouts of this vehicles is not known, and the Seller has been unable to recover it resulting in a claim in proceedings of £12,806. • During the period from 20 March 2019 up to the 4 September 2019 over which SYCWU was failing to remit sales funds to its Sellers, in breach of the terms and conditions of its agreements with them, bank statement analysis shows that he caused payments to be made totalling £125,244.78, for either his own benefit or to the benefit of parties connected to him as follows, £52,440.54 to himself £66,804.24 to third parties connected with him £6,000 to a company connected to him where he is the sole director. 

This information is correct as at 21 / 7 / 2021



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