An investigation by the Insolvency Service has lead to two directors of a property development company being disqualified.
Garry Gibson has been disqualified from acting as a director of any company, without permission from a court, for 15 years, the maximum disqualification period available. Steven Gibson was given a four year period of disqualification at Edinburgh Sheriff court.
Garry Gibson was previously disqualified from acting as a company director in July 1997 for a period of 12 years in relation to his misconduct as a director of Red Castle Homes Ltd. Between 2002 and 2008 Garry Gibson breached the disqualification order and acted in the management of Roxburgh Homes using his son to act as a director in name only.
Despite his existing disqualification The Insolvency Service found that Mr Gibson was the main point of contact with the company’s bankers described himself as the ‘owner’ of Roxburgh Homes and negotiated a joint-venture agreement with a finance company. Roxburgh Homes Limited went into compulsory liquidation on 13 October 2008 owing £475,826 in respect of liabilities that began accruing in December 2006.
Steven Gibson was appointed as a registered director of the company on 30 June 2005. Investigators found Steven Gibson abrogated his duties to his father, and by doing so caused or permitted Garry Gibson to act as a director, which led to the “detriment”” of a number of creditors.
