Archive for the ‘approved cash app’ Category

Pay day loan company utilized 1.2m pension liberation scheme to cover debts

Three directors of an insolvent loan that is payday which received cash from retirement liberation schemes have now been disqualified.

Three directors of an insolvent loan that is payday which received money from retirement liberation schemes have now been disqualified.

Speed-e-Loans.com (SEL), utilized 1.2 million from personal investors through the schemes to meet up with its debts that are existing.

Directors Philip Miller, Robert Alan Davies and Daniel Jonathan Miller have now been prohibited from acting as directors for nine, six and 5 years respectively for breaching fiduciary duties and the duties of care, ability approved cash coupon and diligence.

At management, the company had assets detailed at 150,000 and liabilities to creditors of 4.4 million

SEL continued to get personal investment via liberation schemes whilst it had not been solvent and had ceased financing to new business. Investors additionally took in obligation for the tax that is substantial and contact with the possibility of penalties.