HOMES DIRECT PROPERTY SOLUTIONS LIMITED

Ersan Turay

February 1978

Disqualified from being a director because of their conduct for the period of

3 Years 6 Month(s)

Disqualification starts from

11 June 2020

Improper conduct which resulted in their disqualification

From at least 20 October 2015 to 10 November 2017, the date of liquidation, Ersan Turay caused Homes Direct Property Services Limited (hereinafter referred to as Homes Direct) to trade to the detriment of a utility company so that as at liquidation, Homes Direct had an outstanding liability of at least £461,405.54 to that utility provider: • Homes Direct’s business was the short term subletting of residential properties. • Homes Direct opened its first account with the utility provider on or around 14 August 2012, opening additional accounts each year until it held 85 separate accounts by the date of liquidation; • Statements provided by the utility provider show that by 20 October 2015 Homes Direct had 74 accounts with them and owed a total of £209,314.97. • The statements show that for the period from 20 October 2015 to liquidation on 10 November 2017 a further £252,090.57 was incurred with this utility provider. • At the date of liquidation a total of £461,405.54 was outstanding to the utility provider out of total liabilities of £588,003.42. • Between 20 October 2015 and 10 November 2017, excluding contra entries £2,244,317.55 was paid out of the bank account. Of which; - £2,146,325.19 was paid to trade and for business expenses; - £40,515.72 was paid for wages; - £97,992.36 appears to have been paid in direct payments to Ursan Turay or for what appears to be to his benefit - Payments and credits totalling £23,907.57 were applied to the accounts with this utility provider, none of which were made from the company bank account