Michael O’Toole, 56 of Sheffield and Mark Rice, 39 of Sheffield both provided an eight year disqualification undertaking to the Secretary of State in respect of their conduct. Mr O’Toole’s disqualification commenced on 6 July 2017 and Mr Rice’s ban began on 28 June 2017.

An Insolvency Service investigation found invoices totaling £760,000 had been factored, of which only one, of £45,000, was found to be a true invoice.

Commenting on the disqualification, Martin Gitner, Deputy Chief Investigator of Insolvent Investigations, Midlands & West at the Insolvency Service, said:

The directors failed to run their business in accordance with the terms set out in its agreement with the invoice discount facility provider.

The company obtained money to which it was not entitled by submitting details of sales invoices which did not exist and this caused the provider to incur financial losses.

Using false documents is contrary to the conduct expected of a company director and the Insolvency Service has strong enforcement powers which we will not hesitate to use to remove dishonest or reckless directors from operating a business in an environment with the benefit of limited liability.

Notes to editors

Plast-Tec Plastering Systems Limited (CRO No. 06402826). The company’s registered office was at Neepsend Triangle Business Park, Burton Road, South Yorkshire, S3 8BW.

Mr O’Toole’s date of birth is 17 June 1961 and he resides in Sheffield. He was appointed as a director on 1 December 2013.

Mr Rice’s date of birth is 27 September 1977 and he resides in Sheffield. He was a director from incorporation on 18 October 2007.

The matters of unfitness, which Mr O’Toole did not dispute in the Disqualification Undertaking, were that:

Between December 2015 and April 2016, I caused Plast-Tec Plastering Systems Limited (PTPS) to factor false invoices totalling at least £715,000 to Lloyds TSB Commercial Finance..

The matters of unfitness, which Mr O’Toole did not dispute in the Disqualification Undertaking, were that:

Between December 2015 and April 2016, I caused Plast-Tec Plastering Systems Limited (PTPS) to factor false invoices totalling at least £715,000 to Lloyds TSB Commercial Finance.

A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot:

• act as a director of a company
• take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership
• be a receiver of a company’s property

Disqualification undertakings are the administrative equivalent of a disqualification order but do not involve court proceedings. Persons subject to a disqualification order are bound by a range of other restrictions.

The Insolvency Service, an executive agency sponsored by the Department for Business, Energy and Industrial Strategy (BEIS), administers the insolvency regime, and aims to deliver and promote a range of investigation and enforcement activities both civil and criminal in nature, to support fair and open markets. We do this by effectively enforcing the statutory company and insolvency regimes, maintaining public confidence in those regimes and reducing the harm caused to victims of fraudulent activity and to the business community, including dealing with the disqualification of directors in corporate failures. Further information about the work of the Insolvency Service, and how to complain about financial misconduct, is available.

BEIS’ mission is to build a dynamic and competitive UK economy that works for all, in particular by creating the conditions for business success and promoting an open global economy. The Criminal Investigations and Prosecutions team contributes to this aim by taking action to deter fraud and to regulate the market. They investigate and prosecute a range of offences, primarily relating to personal or company insolvencies.

Media enquiries for this press release – 020 7674 6910 or 020 7596 6187

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Two Flood Alleviation Schemes (FASs) in Louth and Horncastle which collectively reduce flood risk to over 350 properties have been formally opened on 28 July, following successful completion of the projects.

Construction on the £6.5m Louth scheme and the £8.1m Horncastle scheme started in summer 2015, and were finalised this month. The two projects were delivered in a partnership of the Environment Agency, Lincolnshire County Council, East Lindsey District Council, Anglian Water and the Lindsey Marsh and Witham Third Internal Drainage Boards. Louth and Horncastle Town Councils will fund ongoing maintenance on the schemes. The development of the two schemes was led by the Environment Agency, with construction being carried out by its contractors.

Communities in Louth and Horncastle were significantly affected by the floods of summer 2007, when over 200 properties in the area were flooded. Close partnership working has since helped fund and made the two Flood Alleviation Schemes possible.

The Horncastle Flood Alleviation Scheme consists of a single flood storage reservoir on the River Bain, upstream of the town of Horncastle. As part of this scheme, a number of residents whose homes are at risk of flooding from the river Waring were offered property-level flood protection, such as air brick covers and flood doors. The Louth Flood Alleviation Scheme consists of a flood storage reservoir on the Northern branch of the River Lud, and one on the Southern branch of the river.

In addition to reducing flood risk to hundreds of properties in Louth and Horncastle, the two schemes also deliver benefits to the environment. In Horncastle, partners have created a large lake and wetland area which will provide a habitat for water voles. At the reservoirs in Louth, additional water vole habitat will also be created.

Floods Minister Thérèse Coffey said:

These flood schemes are fantastic news for Lincolnshire, giving hundreds of people in Louth and Horncastle precious peace of mind. And there is more development to come across the county, with £160 million planned investment here over the next four years to better protect around 30,000 homes.

Emma Howard Boyd, Chair of the Environment Agency, said:

I am delighted that our partnership work with the community and local authorities in Louth and Horncastle will reduce flood risk to over 350 properties and support wildlife.

People here understand the devastating impact of flooding and the tenth anniversary of the 2007 floods is a timely reminder of the real threat posed by severe weather. I ask everyone to check their flood risk, sign up for free flood warnings and look for advice about flooding on GOV.uk.

Councillor Colin Davie, Executive Member for Economy and Place at Lincolnshire County Council, said:

One of the council’s top priorities is protecting our residents from flooding. That’s why we’re working hard with our partners to do everything we can to reduce the risk to Lincolnshire homes. The opening of these new defences is a testament to the hard work of all involved, and will make a significant difference to the lives of people living in these communities. I’m delighted we’ve been able to make this happen.

Cllr Eddy Poll, Executive Member for Environmental Management at Lincolnshire County Council and Chairman of the Anglian Northern Regional Flood and Coastal Committee, said:

We all know the kind of devastation flooding can cause within a community – that’s why projects like this are so vital. These new defences will protect hundreds of local families from the misery and disruption that flooding brings. It’s impossible to prevent flooding entirely, but we’ll continue to work with our partners to ensure that local communities are as well-defended and well-prepared as possible.

The Leader of the East Lindsey District Council, Councillor Craig Leyland said:

This is an important milestone in the work of the Environment Agency jointly with other authorities and we have been extremely pleased to have contributed £1million to these essential schemes to help reduce the risk of flooding to our residents and businesses. After the devastating flooding that we have seen in 2007, we hope that these schemes will give residents greater peace of mind and protection from the risk and threat of flooding in the future.

The Mayor of Louth, Councillor Pauline Watson said:

Louth is celebrating the increased flood protection for the town which is the culmination of ten years of heartfelt campaigning and unprecedented partnership working, both between statutory bodies and ordinary townsfolk.