Case details for Paul William DAVIE

Name: Paul William DAVIE


Date of Birth: 6 / 10 / 1971

Date Order Starts: 24 / 8 / 2021

Disqualification Length: 6 Years 0 Month(s)

CRO Number: 10455667

Last Known Address: 54 Parklands,, , , , MALMESBURY,, SN16 0QJ

Conduct: On 05 May 2020 Paul William Davie (“Mr Davie”) caused My Move Removals Limited (“My Move”) to pay £30,000 to himself on the same date a Bounce Back Loan (“BBL”) of £46,000 had been received. The payment made to him breached the conditions of the BBL which stated that its intended purpose was to provide economic relief to the business and to be used wholly for business purposes and not personal purposes. • Accounts for the year ended 31 October 2019 show that My Move was insolvent as it recorded a loss of £1,570. The balance sheet records that My Move had assets which were in excess of its liabilities by £515 but this was only by virtue of 2 director loan accounts where he and a former director who resigned on 27 November 2019 owed My Move £2,604 and £19,008 respectively. • Available bank statements relating to My Move show that between 01 November 2019 and 04 May 2020 payments totalling £13,700 were paid to him referenced as ‘DIV/WAG’. In the same period, payments totalling £5,000 referenced as ‘DIRECTORS LOAN’ were paid into the account. • Bank statements show that a £46,000 BBL was credited to My Move’s bank account on 05 May 2020 which provided a credit balance in the bank account of £33,549 as it was previously overdrawn. • On 05 May 2020 a payment of £30,000 was made to him referenced as ‘DIR LOAN BACK’ which increased the amount he owed to My Move in respect of his director loan account at Liquidation on 14 October 2020 to at least £27,604. • He has stated to The Insolvency Service that he completed the application to obtain the BBL and that the payment of £30,000 made to himself on 05 May 2020 was a director’s loan. This payment to him provided no benefit to My Move or its creditors and breached the conditions of the BBL. • No repayments were due during the first 12 months in respect of the BBL but between 05 May 2020 and Liquidation, other creditors totalling £25,530 at Liquidation (excluding the BBL and bank overdraft) received payments of at least £20,582. By comparison he paid himself £30,000 from the BBL plus other amounts totalling £18,090 from the bank account, which would have been sufficient to discharge these liabilities, but had the effect of increasing the amount owed to My Move. • At Liquidation My Move had liabilities of £85,712 (including amounts due to the bank in respect of the BBL of £46,000 and overdraft of £14,181) and the Liquidator was pursuing both him and the former director for repayment of their director loan accounts owed to My Move which were the only assets at Liquidation. The Liquidator has received a payment of £6,500 from the former director in relation to their directors’ loan account. He has not made any repayments in relation to his outstanding director loan account. 

This information is correct as at 4 / 8 / 2021

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