Musical instrument dealers banned for 18 years
Fred Patrick Onn, 58, from south-east London and Andrew Thomson, 63, from Whaley Bridge in Derby, had been the directors of Bright Film & TV Casting Limited since March 2006.
The company was renamed Top Wind Limited in January 2007 and operated as a musical instrument retailer, part of which was to sell musical instruments on behalf of customers and earn 18% commission on each sale.
Top Wind Limited traded until April 2020, when it went into liquidation and an insolvency service investigation into directors’ conduct began.
Investigations have revealed that from July 2019 to April 2020, when the company was insolvent, Top Wind Limited sold at least 20 musical instruments but the proceeds, which amounted to over Â£ 33,000, failed to sell. been transferred to the owners.
Fred Onn held a meeting in July 2019 with an insolvency practitioner to discuss insolvency options and both directors were aware of Top Wind’s financial situation. At this point, at least 10 clients who had sold their instruments through the company had not received product of at least Â£ 16,330.
At the liquidation in April 2020, at least 30 customers had filed complaints about instruments sold, totaling nearly Â£ 50,000. More than Â£ 33,000 of those claims were for instruments sold after July 2019, when directors knew the company was in financial difficulty.
The Secretary of State for Business accepted the disqualification undertakings of Fred Onn and Andrew Thomson after they did not dispute that they caused or authorized Top Wind Limited from July 9, 2019 to the date of liquidation, while ‘they were insolvent, selling at least 20 musical instruments owned by third parties and the proceeds of which were not returned to the owners.
Their 9-year bans began on June 22 and prevent them from getting involved, directly or indirectly, without court authorization, in the promotion, constitution or management of a business.
David Brooks, Chief Insolvency Service Investigator, said
The musicians trusted Fred Onn and Andrew Thomson to sell their instruments, believing that they would act in a trustworthy manner. Instead, these directors accepted the sales knowing Top Wind Limited was insolvent and keeping the funds they should have passed on to their clients.
Fred Onn and Andrew Thomson used the sales proceeds to pay Top Wind’s other vendors instead, which meant Top Wind traded longer than other similarly struggling companies that handled the product properly. sale. This conduct is not appropriate for business leaders and both are now banned from the business environment for a considerable period.
Notes to Editors
Fred Patrick Onn is from South East London and his date of birth is April 1963.
Andrew Thomson is from Whaley Bridge in Derbyshire and his date of birth is May 1958.
Top Wind Limited (company number 05759411).
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