Approaching 70 years of age and having dedicated our entire lives in having a dream, bringing that dream into reality, building a business that we could be proud of and which provided an income for our family was a realisation of years of hard work, investment and dedication. The dream was always for the company to then be passed down to our children once we had retired. Attributable to the determination and focus in building the business over a 25 year period, the company successfully traded in the highly competitive automotive parts industry.

The Impact of the Covid-19 Pandemic (‘C19’)

C19 devastated the industry, marketplace and the business that we had nurtured like a child over many years. Attributable to the various travel restrictions and risk to life, there was a significant downturn in the use of motor vehicles or the requirement of automotive parts. In these circumstances, the company was unable to trade, generate turnover and we found ourselves in an unfamiliar position after 25 years of successful trading.

It was in these circumstances that we were left with no choice, but to place our company into Creditors Voluntary Liquidation (‘CVL’). This was an extremely difficult and emotional time for both of us. The company had provided an income, the ability to feed and clothe our children and hopefully financial security for future generations. That all came crashing down attributable to C19 and not our actions as directors.

Investigation by the Insolvency Service (‘IS’)

Having believed that C19 could be the worst thing that could happen to us, we were both horrified to then receive notice from the IS confirming they were investigating our conduct with a view to determining whether we should both be disqualified. We were shocked and completely dumfounded as to what to do next. We had worked extremely hard over the entirety of our adult lives in building our reputation. That was now at great risk of being dismantled just as we were both approaching retirement.

It would have been easy for us to accept a disqualification ban as we are of retirement age. However, we did not want to simply accept being disqualified when we had done nothing wrong.

Instructing Gulshan at D & N Solicitors

We carried out online enquiries with a view to retaining solicitors to assist us in defending our position. After speaking with a few different solicitors, we decided to proceed with Gulshan.

We had no previous dealings with Gulshan. However, having once spoken with him, he quickly put us both at ease. Gulshan went through our options, tactics and how best to defend our position which included drafting detailed submissions and attending a meeting with the IS. More importantly, Gulshan actually listened to us rather than simply taking a clinical approach to matters that we had found when speaking to other solicitors.

The Outcome – No Disqualification for Either of Us

Attributable to working as a team and with Gulshan’s knowledge, expertise and pathway of how to deal with matters, the IS agreed to terminate their investigation into both of us and agreed that it was not in the public interest for either of us to be disqualified.

Relief for the Both of Us

We are both of retirement age and have worked extremely hard over the entire course of our lives to be honest, fair and operate in accordance with the relevant rules and regulations. Being disqualified at the end of our working lives would have been extremely upsetting and unfair. Coupled together with the fact that I had suffered a serious injury, but still made all efforts to protect the business from the impact of C19 would have been particularly galling.

Enjoy Our Retirement

Attributable to Gulshan’s efforts, willingness to listen and support, we can now enjoy our retirement freely and without any unfair sanction against either of us.

Thank you, Gulshan!

SW & DW
Stafford