Case details for Shaun DAVID FOSTER



Date of Birth: 1 / 8 / 1987

Date Order Starts: 10 / 11 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 12226911

Last Known Address: 53 Kimberley Drive,, , , , MIDDLESBROUGH,, TS3 8QF

Conduct: Shaun David Foster (“Mr Foster”) caused LIT ENGINEERING CONTRACTORS LIMITED (the “Company”) to obtain a Government-backed Bounce Back Loan (“BBL”) totalling £50,000 for which he knew or ought to have known it was not eligible for and did not use the BBL for the economic benefit of the Company, contrary to the terms of the BBL. In that: • On 27 May 2020, he declared that the Company’s estimated turnover was £220,000 within the BBL application form. • The Company’s bank statements reveal that in the entire period in which it traded (September 2019 to June 2021), aside from the BBL funds, only £6,303.05 was ever received into the Company’s sole bank account. Of that £6303.05, £3000 relates to money paid into the account at the very end of that period, to cover the Insolvency Practitioners’ fees for the liquidation. • On 29 May 2020 £50,000 was received in the Company’s only bank account, being the proceeds of the BBL. • Following receipt of the £50,000 BBL funds, the following sums were paid out of the Company’s account: o A total of £15,000 was paid directly to him between 29 May and 26 October 2020; o A total of £7,200 was withdrawn in cash on 25 June 2020 and 22 October 2020; o £5,000 was paid to Party A on 8 June 2020; o £4,000 was paid to Party B on 10 June 2020; o £15,000 was paid to Party C (which relates to the purchase of a Van) on 29 May 2020; o £5,000 was paid to Party D (which relates to the purchase of a Generator) on 10 June 2020. • He has provided no evidence to demonstrate that the BBL was used in its entirety for the economic benefit of the Company or of how the anticipated turnover was calculated. • At liquidation, the BBL remained outstanding in full. 

This information is correct as at 24 / 10 / 2022

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