Name: ADAM DANIEL JANNECE

Name: MADA CONSTRUCTION SERVICES LTD

Date of Birth: 11 / 6 / 1985

Date Order Starts: 12 / 3 / 2024

Disqualification Length: 5 Years 0 Month(s)

CRO Number: 07877360

Last Known Address: Helmsly,, Upper Station Road,, , , HENFIELD,, BN5 9PL

Conduct: Mr Adam Jannece (“Mr Jannece”) caused Mada Construction Services Ltd (“Mada”) to apply for and obtain a Government backed Bounce Back Loan (“BBL”) for £50,000. Mr Jannece failed to ensure that the BBL was used in its entirety for the economic benefit of Mada, in that: Mr Jannece confirmed that he applied for the BBL and did not ask for or receive any advice regarding the BBL application. Prior to receipt of the £50,000 BBL, Mada’s company bank account had a negative balance of £3,326.20. On 11 September 2020, Mada received a BBL of £50,000 into the company bank account to which Mr Jannece was a signatory to On 06 November 2020 Mr Jannece transferred £20,000 to his personal bank account. On 23 November 2020 Mr Jannece transferred £20,000 to his personal bank account. Mr Jannece states that he used his personal account as nominee to open an investment account for Mada Mr Jannece further states that he invested the £40,000 into stocks and shares; no supporting evidence has been supplied by Mr Jannece to support this or to confirm the value of the shares at liquidation. Mr Jannece failed to ensure that the BBL was used in its entirety for the economic benefit of Mada. On 06 September 2022, Mada went into liquidation with outstanding liabilities of £80,176.19, £48,333.34 of which was in respect of the BBL. In the liquidation, HSBC submitted a proof of debt for £49,074.11. 

This information is correct as at 21 / 2 / 2024

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