Case details for SIMON JAMES BLAND

Name: SIMON JAMES BLAND

Name: The GTI Centre Limited

Date of Birth: 18 / 12 / 1974

Date Order Starts: 14 / 10 / 2021

Disqualification Length: 7 Years 0 Month(s)

CRO Number: 08736830

Last Known Address: 407 Penistone Road,, Shelley,, , , HUDDERSFIELD,, HD8 8JB

Conduct: Simon Bland (Mr Bland) caused The GTI Centre Ltd (GTI) to act in breach of a secured lending agreement, resulting in losses to the lender of at least £317,342 at liquidation;. • On 21 April 2015, the lender entered into agreements with GTI to provide stock funding in the total amount of £400,000; • These monies were to be held in an account to which the lender and GTI had access (“the facility”); • The secured lending agreement provided that the purpose of the facility was only for the acquisition of vehicles in the name of the lender. Vehicles purchased using the facility provided by the lender were to remain the sole property of the lender until the vehicle was sold; At the point of sale, GTI had 5 business days to remit to the facility the sum that was borrowed from it for the purchase of that vehicle. • At 04 December 2018 Mr Bland provided the lender with information detailing 30 vehicles purchased using the facility with a value of £309,740. • Of the 30 vehicles shown to be available at 04 December 2018 by Liquidation on 10 January 2019, only 15 vehicles with value of £160,007 were available for recovery by the lender. • 9 of these vehicles, valued at £149,733, were subject to additional charges, in breach of the funding agreement • There were 15 vehicles which were not in stock at liquidation meaning that either GTI has sold them and failed to remit funds to the lender or that the vehicles were never purchased in the name of the lender in the first place, both of which are in breach of the secured lending agreement. • On 07 December 2018, monies in the total amount of £25,533 remained in the investment fund and were withdrawn from the account by the lender; The lender received £57,125 from the sale of the available stock at liquidation. • As a result, at liquidation the lender had a shortfall of at least £317,342 

This information is correct as at 27 / 9 / 2021



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