Wedding venue director pays his price
Director of a stunning Exeter wedding venue, also the location Peter Andre tied the knot with wife Emily MacDonagh in July 2015, has been issued a nine year ban for accepting payments, despite knowing the company was insolvent.
Mamhead House And Castle Limited, established in October 2014 and located on the East Devon coastline promised to offer “Devon’s most luxurious wedding and be the perfect venue for marriage”. However, couples got a lot more than what they bargained for when they were left in debt by the venue which not only failed to offer them their dream wedding, but left them in what turned out to be a total nightmare, with no wedding at all.
The business that was operated by Richard Fuller, who was appointed Director a year after the business began trading, left a total of £608,000 in debt, which included deposits of couples who had thought they had secured their fairy tale wedding.
The business was rumoured to be in financial difficulty in September 2016 and in October, the company ceased trading and the Administrator HJS Recovery informed creditors that the business was in debt. Mamhead House And Castle Limited entered voluntary liquidation in November 2016.
Following investigation, it was revealed that the company had six judgements against it from creditors which Mamhead House And Castle Limited could not afford to pay. This caused them to enter into a payment agreement in order of clearing the debts.
To make matters worse, further enquiries found that Mr Fuller continued to take deposits from customers, endangering their money. It has since been revealed that the funds that had been handed over to the company by couples could not be recovered.
This month, the Insolvency Service has reported that as a result of Mr Fuller’s actions, he has been issued with a nine year ban, effective from January 2019, from being involved in any new business.
If your company is in financial difficulty, please get in touch with our business recovery team on 01392 667000 as there are a number of limited Companies and their Directors. The appropriate procedure will depend upon the specific circumstances of the Company. We can advise on the alternative options and the consequences of each, trying to avoid a formal insolvency procedure where possible.