Case details for Alexander Stewart COOPER

Name: Alexander Stewart COOPER


Date of Birth: 1 / 8 / 1952

Date Order Starts: 14 / 11 / 2022

Disqualification Length: 10 Years 0 Month(s)

CRO Number: SC489718

Last Known Address: 1 Capelrig Lane,, , , , Newton Mearns,, G77 6XZ

Conduct: Alexander Stewart (Sandy) Cooper (“Mr Cooper”) caused Traprain Homes Ltd (“THL”) to apply for a Bounce Back Loan (“BBL”) of £50,000 on 1 June 2020, at a time when he knew, or ought to have known, that THL did not meet the criterial for that loan, and subsequently caused THL to misuse the BBL funds in that: • A business could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover in calendar year to 31 December 2019. On 1 June 2020 he applied for a BBL on behalf of THL, thereby declaring that the company met the criteria for that loan. The criteria for the applicant included that the company: a) Must be trading at the time of the application: • The last accounts filed were extended to 31 January 2020 and discloses losses of £113,379. • These latest accounts demonstrate that at 31 January 2020, taking account of the assets and liabilities, the company was insolvent, in that it would not be able to meet its obligations. • The Insolvency Service carried out a bank analysis on the bank statements available, from 12 February 2020 and with the exception of a credit from HMRC in April 2020, and 3 payments totalling £2,050 to the company accountant, there are no substantive trading expenses or income in the period from 12 February 2020 to 1 June 2020. • He advised the Liquidator that the company ceased to trade in February 2020. b) Must use the funds to provide economic benefits for the business and must not use the funds for personal gain: • A bank analysis of the company’s Current bank account carried out for the period from February 2020 to June 2021, discloses that following the receipt of the BBL of £50,000 on 1 June 2020, payments totalling £9,477 were paid to him between 1 June 2020 and 2 June 2020. While he has explained to the Liquidator that these funds were used to repay a loan and to pay off an overdraft, he has failed to provide any evidence that these relate to Traprian business expenses. • On 2 June 2020 a payment of £40,000 was transferred to the Company’s Savings account then on 4 August 2020, was transferred back to the Current account and subsequently, on the same day, was paid out to him. While he has explained this to the Liquidator as a movement of funds to protect them from a former director, he has failed to repay these sums or provide evidence that these were used for Traprain business purposes. • With the exception of 1 payment of £400 to the company accountant, and in the absence of any evidence to the contrary, he has received sums totalling £49,477 of the £50,000 BBL, within 2 days of the BBL being paid into the company account. C) Must intend and be able to complete timely repayments: • He applied for and received the BBL of £50,000 at a time when the bank account balance was £96. • The Insolvency Service carried out a bank analysis on the 2 bank accounts, which were opened in February 2020 and June 2020, and disclose that in the period from February 2020 to June 2020, when the BBL was paid into the account, the income received was £4,709, which includes a credit from HMRC of £3,984 and a payment from the Director of £570. • While the company would have been due to start repaying the BBL in June 2021, on 18 June 2021 Traprain entered liquidation with liabilities of £50,000 owed to the bank in relation to the BBL. 

This information is correct as at 26 / 10 / 2022

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