Terence Coventry (39), from Gainsborough, Lincolnshire, was appointed the sole director of Alliance Traffic Services Limited in April 2016 before he caused the company to enter into a factoring agreement a month later.
The factoring agreement, which Terence Coventry personally guaranteed, set out the terms where an independent finance company would buy Alliance Traffic Services invoices in return for advanced finances.
However, between May 2016 and March 2017, Terence Coventry abused his position of trust as a director and caused of Alliance Traffic Service to breach the terms and conditions of the factoring agreement, despite being personally liable.
He failed to ensure company sales invoices were correctly produced and some custome…
Read the full article at: https://www.gov.uk/government/news/extended-bankruptcy-after-boss-caused-finance-company-to-lose-thousands