Name: Aras HUSSEIN

Name: Capital Cars Berks Limited

Date of Birth: 1 / 1 / 1986

Date Order Starts: 10 / 7 / 2025

Disqualification Length: 4 Years Years 0 Month(s)

CRO Number: 11724615

Last Known Address: 4 Duke Place, , , , SLOUGH, SL1 3GW

Conduct: 1. On 14 May 2020 Capital Cars Berks Ltd (‘CCB’) obtained a Government-backed Bounce Back Loan (‘BBL’) of £20,000 from its bank (‘bank A’). On 29 May 2020 Mr Aras Hussein (‘Mr Hussein’) signed an application for a second BBL from another bank at which CCB had an account (‘bank B’) and on 02 June 2020 an amount of £45,000 was paid into that account. Obtaining 2 BBLs was contrary to the conditions of the BBL Covid-support scheme. 2. In September 2021, shortly before instructing an insolvency practitioner, Mr Hussein caused CCB to dissipate a total of £123,318 which it held in 2 bank accounts and failed to use these moneys to settle the outstanding balances on the BBL accounts. In addition, as no assets were held at the liquidation date this disbursal was not for the economic benefit of the Company and was to the detriment of the banks, which were owed £65,835. In that: • As at 31 August 2021 CCB had a credit balance on its account with bank A of £13,627 following which: o A withdrawal of £8,000 was made on 06 September 2021; o A further £4,775 was withdrawn on 08 September 2021; o Leaving an overdrawn balance of £9; o Mr Hussein has failed to provide any explanation for these withdrawals; • As at 31 August 2021 CCB had a credit balance of £91,867 on its account with bank B; o Between 01 and 15 September 2021 £18,768 was paid into the account and £110,543 was paid out, including: ? £67,470 to a car auction company; and ? £38,000 in cash; o Leaving a credit balance of £169; o Mr Hussein has failed to provide an explanation for these disbursals; • Mr Hussein consulted the insolvency practitioner on 20 September 2021; • No assets are shown on the statement of affairs; • The statement of affairs discloses total creditors of £74,030, of which £65,835 is owed to Banks A and B. 3. Mr Hussein failed to deliver up records in the liquidation which are sufficient to explain disbursements totalling £118,245 made shortly before the instruction of the insolvency practitioner and/or he has failed to account for assets which should have been available in the liquidation. In that: • On 06 and 08 September 2021 withdrawals totalling £12,775 were made from a bank account held by CCB, leaving an overdrawn balance of £9; • Between 01 and 15 September 2021 a total of £67,470 was paid to a car auction company and £38,000 was withdrawn in cash from an account held with a second bank, leaving a balance of £169; • On 20 September 2021 Mr Hussein consulted the insolvency practitioner; • CCB went into liquidation on 11 November 2021; • The statement of affairs signed by Mr Hussein disclosed no assets and no stocks were available in the liquidation; • Mr Hussein has failed to provide any explanation for the disbursal of these moneys or the whereabouts of the stocks which appear to have been purchased. 

This information is correct as at 26 / 6 / 2025

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