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Tuesday, 27 January 2015

Vinance directors – Earl, Ford and Wallen – now disqualified

Vinance plc: Fine Wine Portfolio Managers!

'All four directors of Vinance PLC have been the subject of disqualification proceedings taken by the Insolvency Service. Each director has now given a legally binding undertaking not to act as a director of any limited company for a long period of time.

Simon Earl – 10 years
Simon Ford, Paul Ford, Mike Wallen – 9 years each
If they breach their undertakings, they can be prosecuted. Simon Ford has resigned as a director of Electus Wines Ltd.' See previous investdrinks post here.

This ban means that Simon Earl, Simon Ford, Paul Ford and Mike Wallen cannot act as shadow directors surreptitiously running a company. 

Following Simon Ford's resignation (13.1.2015) as a director of Electus Wines Ltd, the company's future may well be uncertain. The sole director is Timothy Graham Ford, Simon's father who celebrates his 70th birthday today. Will he want to continue the business, which Simon Ford told me he would be running from Ottawa? The company is now registered at a private address in Blackheath.  

In February 2013 Simon Earl and Mike Wallen were jailed for their part in running a brothel and prostitution ring. Details here.  

My thanks to Chris Herron for keeping me informed. It would be good if all insolvency practitioners were this helpful!

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