Struck-off Cambridge lawyer Murray Osmond claimed to act as consultant only to Delta Shared Services Ltd, now in liquidation insolvent. Ruled to be a ‘de facto’ director, he was ordered to front up in court explaining what had happened to business assets.
Part of a network of over twenty companies with Osmond in control at the apex, Delta Shared Services owes unsecured creditors some $252,000 according to the liquidators’ most recent report. Sale of those company assets liquidators managed to track down left a small surplus of only $114 after costs. With Mr Osmond refusing to assist liquidators in their search for further assets, the High Court ruled he had acted as a ‘de facto’ director and under Companies Act rules was required to front up.
Grahame Graig is named as sole director of Delta Shared. Mr Osmond said he was not a Delta director, his role was solely to give advice to the company and to carry out some administrative tasks while Mr Craig was ill.
Associate judge Taylor ruled Mr Osmond was acting as a director. This followed evidence that Mr Osmond’s home address in Cambridge was also the company’s registered address and that he consistently acted on behalf of the company in negotiations with its landlord and in legal issues which followed. Keeping Delta Shared’s Companies Office file up to date while describing himself as being an ‘authorised person’ indicated he held relevant information about the company, Judge Taylor said.
Mr Osmond was ordered to hand over to the liquidators all company records he held, to list all documents he is aware of held in other locations and to appear in court for examination on oath about his knowledge of company affairs.
re Delta Shared Services Ltd – High Court (24.02.23)
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