THE director of a motor finance company will not be a manager for the next four-and-a-half years after his company failed with debts of more than £250,000.
Martin Heaps, of Ackers Road in Stockton Heath, agreed to the undertaking following his work as director of Euro Motor Finance Limited, based on Bewsey Road.
The company was placed into liquidation on February 20 this year with estimated debts of £265,468.
The Insolvency Service heard that the company owed large debts to the Inland Revenue.
But instead of paying that money back, the 34-year-old increased his own salary from £14,216 in 2000 to £45,476 in 2001 and £65,675 in 2002.
A spokesman said: "The increased remuneration and benefits paid to him were to his own benefit and to the detriment of creditors generally, in particular the Inland Revenue."
During the time that the debts were in place, only £8,205 was paid to the Inland Revenue in 2002/03.
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