MR LUIZ DONIZETE BRAGA

Disqualified from

2022-09-27

Date of birth on record

October 1967

a) LUIZ DONIZETE BRAGA (“MR BRAGA”) caused or allowed Dony Express Limited (“DONY”) to breach the terms and conditions of its Invoice Discounting Agreement and this resulted in the provider of the Invoice Discounting Facility sustaining a loss. The provider has a claim in the Liquidation of £52,654. This was as a result of submitting invoices that he knew or ought to have known were not due for payment in the value of the sums being submitted. This included duplicate invoices, cancelled jobs, invoices in respect of which credit notes were issued and invoices where he caused or allowed DONY to collect monies direct in breach of the terms of the agreement. In respect of one debtor he caused or allowed DONY to make requests to that debtor that payments be made direct to the company bank account in breach of the terms of the factoring agreement. The debtor states that she was informed that DONY didn’t factor all of its invoices. Between 25 June 2020 and administration on 9 December 2020 that debtor was asked to make payments to DONY direct totalling £135,184. These invoices should have all been notified to the provider of the factoring agreement and all of the payments should have been made to provider of factoring agreement. He caused or allowed DONY to notify Bibby of invoices totalling £43,000 so that DONY could draw down against those invoices whilst asking the debtor to pay DONY direct. These invoices totalling £43,000 were paid in sum of £7,500 and £12,500 on 25 June 2020, £15,800 on 27 June 2020 and £7,200 on 30 June 2020, all paid direct to DONY’s bank account. He also failed to maintain, preserver or deliver up to the factoring provider complete invoices and proof of deliveries as required under the terms of the agreement. b) He failed to cause DONY to maintain, preserve or deliver up to the administrator accounting records to account for the transactions of the company and to allow the provider of factoring facility to collect in amounts due to the company or alternatively determine whether the invoices submitted were valid invoices. In particular complete sales invoices and proof of deliveries were not available to the provider of the invoice discounting facility or their agents to collect in debts and £80,165 of the ledger remains uncollectable.