The original name was the BRISTOL FERRY BOAT COMPANY, 42 per cent owned by Mayor George Ferguson, which went into full liquidation in February 2013.
A new name appeared between January 2 2013 and April 2013 – FERRYBOATS OF BRISTOL. One of two directors was IAN “BUNGLE” BUNGARD, a former director of the insolvent BRISTOL FERRY BOAT COMPANY. This is the company that never had more than £2.00 in assets during its existence.
A third company, set-up by “the gang” appeared in April 2013 – BRISTOL COMMUNITY FERRY BOAT COMPANY.
The very long arm of Section 216 of the Insolvency Act 1986 on “Phoenix Companies” says:
Section 216 of the Insolvency Act 1986 defines the circumstances in which criminal and civil liability can be imposed on a director who acts, without proper notice being given or the leave of the court, for a company or even an unincorporated business which is known by a prohibited name.
A name will be prohibited where it is the same name that the liquidating company was known as at any time in the 12 months immediately before it went into liquidation, or where it is sufficiently similar as to suggest an association with the liquidating company.
This includes a trading name.
Where a company trades under a prohibited name an individual can be guilty of a criminal offence punishable by imprisonment or fine, or both for:
• acting as a director of the company; and
• taking part either directly or indirectly in the formation, management or promotion of the company.
An individual can also be liable under Section 216 for being involved in a business using the prohibited name, even if it is not a company.
Under section 217 of the Act, a person will be personally responsible for the ‘relevant debts’ of a company if he is involved in the management of the company in breach of section 216, or if he is involved in the management of a company and takes instructions from a person he knows to be in breach of section 216. The relevant debts are those debts which were incurred whilst that person was acting in contravention of section 216 or taking instructions from a person he knew to be in contravention of section 216.
What interesting times we live in …