The director of an insolvent company has been ordered to return money he paid to himself at a time when he knew the business was struggling and likely to fail.
The case involved the director of a company specialising in waste management projects. The business got into financial difficulties and started to build up debts that it couldn’t afford to pay.
In spite of this, the director continued to make payments to himself and to a new company that he had set up. He also made payments to the bank that was helping to finance his new venture.