Two Peterborough-based mechanics and motor parts suppliers have been banned from acting as a director for a total of 25 years, after one of the directors provided false documents to secure \u00a3176,000 worth of loans.\r\n\r\nThe court heard that Adam Hughes and Andrew Wood were directors of Concorde Tyre and Exhaust Centres Ltd. The company was incorporated in 2011 and sold motor parts, as well as providing repair services.\r\n\r\nBetween 2011 and 2017, the company expanded rapidly, operating nine sites across Central and Eastern England. However, this growth reportedly led to \u201ccash flow problems\u201d and administrators were appointed to undertake a pre-packaged sale of the business.\r\n\r\nFollowing their appointment, however, the administrators discovered a third party had petitioned the court to wind-up the company.\u00a0\r\n\r\nThe administrators also had \u201cdifficulties\u201d establishing who owned the company\u2019s assets and who had secured loans against them.\r\n\r\nThe directors\u2019 conduct was referred to the UK\u2019s insolvency service where investigators uncovered that Hughes and Wood provided false documents, including invoices, emails and bank statements, to \u201csecure more than \u00a3176,000 from an asset finance company\u201d.\r\n\r\nFurther enquiries also established that on at least three separate occasions, Hughes supplied false documents to secure finance against assets Concorde did not own.\u00a0\r\n\r\nIt was also discovered that Wood knew that Concorde Tyre and Exhaust Centres did not own the assets but "allowed his business partner to secure finance under false pretences".\r\n\r\nHughes received a 13-year disqualification order in the High Court before Judge Barber on 20 July 2021. Meanwhile, his business partner, Wood, had signed a 12-year disqualification undertaking a year earlier on 2 September 2020.\r\n\r\nMark Bruce, chief investigator for the Insolvency Service, said: \u201cDirectors securing funds against the assets their company legitimately owns is a perfectly acceptable practice. \r\n\r\n"Adam Hughes, however, failed to act honestly while securing more than \u00a3176,000 and Andy Wood failed in his diligence. 25 years\u2019 worth of bans is a substantial amount of time to be removed from the corporate arena and their disqualifications should serve as a warning to other directors tempted to defraud creditors by falsifying documents."