New Chinatown contractor boss banned for seven years

The director of collapsed contractor Bilt Group, which had worked with North Point Global on New Chinatown and two other projects in Liverpool, has been disqualified for seven years.

An investigation by the Insolvency Service found that David Green, who was the director of Bilt Group, had moved £375,000 of Bilt’s money to another company also under his control, while payments worth more than £660,000 were made to third parties “not clearly linked to the company’s trading activities”.

Projects Bilt Group worked on include the first phase of the £200m New Chinatown project, and schemes at The Element and Baltic House.

Bilt Group had taken on New Chinatown from PHD1, which also collapsed in early 2016, but was subsequently kicked off the project along with The Element and Baltic House later the same year.

Following the termination of the contracts, which the investigation said was due to North Point being unsatisfied with the standard of work delivered, Bilt Group entered liquidation owing £590,000 to its creditors.

Insolvency practitioners were appointed to wind-up the company when they reported to the Insolvency Service that payments worth in excess of £1 million had been paid by Bilt Group to third parties and were not necessarily legitimate business expenditure.

Further investigations found that there was no evidence within Bilt Group’s records that these payments were genuine company expenditure.

Following the investigation, Green signed a disqualification undertaking, which prevents him from directly or indirectly becoming involved with the promotion, formation, or management of a company.

Martin Gitner, deputy head of insolvent investigations for the Insolvency Service, said: “David Green was trusted with funds to carry out important redevelopment projects in Liverpool. But he blatantly disregarded his responsibilities when he paid significant sums to third parties totally unconnected to the building works.

“Seven years is a significant ban and should serve as a warning to other directors that there are serious consequences if you are found misusing company funds.”

New Chinatown is one of three sites being investigated by the Serious Fraud Office in the North West; the others are North Point’s Pall Mall scheme, and Angelgate in Manchester. The latter also had PHD1 attached as main contractor.

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7 years in prison may serve as a warning to other directors that there are serious consequences if you are found misusing company funds.

By IR

Misusing the personal savings of honest gullible people in the fractional sales market

By Anonymous

Unfortunately he hasn’t been given 7 years in jail he has just been disqualified from being a director for 7 years

By Oscar

Pity some of the inept Councillors who promoted this sham scheme so actively in China weren’t banned for a 7 year period! Just disgraceful lack of due diligence on some of these schemes.

By John Smith

Agree the council should be investigated, too many questionable schemes and same developers
appearing time and again. Liverpool Leaks is trying to publicise this,good luck to them.

By Town Hall Tommy

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