Kevin Dunstall, the former head of a number of Bradford based print and mailing companies, has been banned from being the director of any company for seven years.
Dunstall was the owner of Global MP, the former St Ives Direct business in Bradford, and sister company Prospect Mailing Services, also based in Bradford.
The ban was handed down by the Insolvency Service over “unexplained payments” of more than £200,000 he made to himself, to the detriment of creditors, while running Prospect.
The Insolvency Service report into his conduct at Prospect Mailing Services said: “Between 5 September 2013 and 11 November 2013, at a time when Mr Kevin Martin Dunstall knew, or ought to have known, that Prospect Mailing Services Ltd was balance sheet and cashflow insolvent, Mr Dunstall breached his fiduciary duty by making unexplained payments to himself of at least £213,515. These payments were to the detriment of creditors.”
Despite the firm having various CCJs outstanding it made payments of £509,633 to an account in Dunstall’s name between 5 September 2013 and 11 November 2013.
Dunstall claimed these payments were used to pay wages, but investigators could only trace around half the sum that was used for this purpose.
When it went into administration on 11 November 2013 the firm had a financial shortfall of around £1.7m.
Shortly after Prospect collapsed, Global MP went bust owing around £13m. At the time St Ives were one of the largest single creditors.
Dunstall was made bankrupt last year as a result of a personal guarantee he gave during his ownership of Prospect.
