Case details for Paul Anthony CONNOLLY

Name: Paul Anthony CONNOLLY

Name: CDP Corporate Limited

Date of Birth: 4 / 4 / 1953

Date Order Starts: 25 / 10 / 2021

Disqualification Length: 12 Years 0 Month(s)

CRO Number: 07095543

Last Known Address: 43 Rossendale Road,, Heald Green,, , , CHEADLE,, SK8 3HE

Conduct: Between 4 December 2009 and 1 December 2016 Paul Anthony Connolly (“Mr Connolly”) acted as a director of CDP Corporate Limited (“CDP”) in breach of the restrictions of a 13 year disqualification order which ended on 1 December 2016. On 1 April 2015 Mr Connolly failed to act in the best interests of CDP when he approved the transfer of his own shares and the shares of his co-director in CDP to a connected company, in that: • Mr Connolly and his co-director received a bonus payment of £400,000 from CDP to purchase shares. • On 5 July 2013 Mr Connolly and his co-director both purchased 400,000 £1 E-Shares in CDP. Mr Connolly and his co-director both paid 1p per share and 99p per share remained uncalled. • Mr Connolly and his co-director both received a bonus payment of £367,000 from CDP to purchase shares. • On 28 November 2014 Mr Connolly and his co-director both purchased 367,000 £1 D-Shares in CDP. Mr Connolly and his co-director both paid 1p per share and 99p per share remained uncalled. • On 13 January 2015 HM Revenue & Customs notified CDP that they were investigating CDP’s participation in an E-Securities avoidance scheme. • On 1 April 2015 Mr Connolly agreed to the transfer of 800,000 E-Shares and 734,000 D-Shares owned by himself and his co-director to a dormant company of which his co-director was the sole director. • By approving the transfer of the shares to a dormant company, Mr Connolly allowed a contingent liability of £1,518,660 to be transferred from himself and his co-director to a company with no assets and no means to satisfy the liability to CDP. • HMRC have submitted a claim in the liquidation for £939,179 

This information is correct as at 5 / 10 / 2021



If you believe this page contains any errors, please email legalservices@insolvency.gov.uk with details of the error that you have found.