Two former directors of a holiday tour operator have been disqualified from acting as company directors for a combined 14 years after failing to ensure that £207,055 raised under commercial participation agreements was paid to five charities.
Simon Smith, 43, and Nicholas Capsey, 40, were both directors at Global Enduro Ltd, a travel company that ran motorbike adventure holidays and supported charities through a fee charged to every participant.
The Insolvency Service said the company suffered a fall in the number of bookings after a social media campaign against it began, and subsequently went into administration on 28 January 2013 with assets of £18,704, liabilities of £498,672 and a deficiency to creditors of £479,968.
Ac…
Read the full article at: http://www.thirdsector.co.uk/tour-company-operators-left-charities-short-disqualified-insolvency-service/finance/article/1384063