Press release -

Insolvency Service: Anthony and Barry Drewitt-Barlow both given 8-year director disqualifications

Anthony and Barry Drewitt-Barlow signed disqualification undertakings for their roles in Euroderm Research Ltd ('Euroderm Research’),which was wound-up in March 2008, with debts of £542,540.

Essex-based company directors, Anthony Drewitt-Barlow and Barry Drewitt-Barlow,  have signed undertakings disqualifying them from being company directors for eight years each, with effect from today, following an investigation by The Insolvency Service.

Anthony and Barry Drewitt-Barlow signed the undertakings for their roles in Euroderm Research Ltd ('Euroderm Research’),which was wound-up in March 2008, with debts of £542,540.

Euroderm Research was incorporated on 18 March 2003.  The company’s original business was the clinical trial of cosmetic products.  Latterly, in the course of trading, Euroderm Research’s business expanded to include trial and testing of pharmaceutical products.  The licence to undertake trail and testing of pharmaceutical products was issued by the Medicine and Healthcare Products Regulatory Agency.

In signing their disqualification undertakings the Drewitt-Barlows accepted that they had allowed Euroderm Research Ltd, which they managed, to make payments totalling £243,704  to an associated company, H2O Haircare Ltd, which had done no work for Euroderm, leading to Euroderm Research’s creditors losing out. No loan agreement existed between the two companies and the money was never repaid.

Furthermore, despite the presentation of a winding up petition on 15 November 2007, Euroderm Research continued to make payments on behalf of H2O Haircare Ltd totalling £32,613, which included cash transfers totalling £20,000.

Euroderm Research’s company records of January 2007 show a co-director as a creditor of the company for £64,622.  Between January 2007 and the presentation of the petition in November 2007, payments and purchases of £103,358 were made on behalf of that director.

The disqualifications mean that Anthony Drewitt-Barlow and Barry Drewitt-Barlow are banned from acting as company directors, or in any way controlling a company for a period of eight years from today.

Notes to editors

1.  In about June 2007 the activities of Euroderm Research Ltd in relation to pharmaceutical trials became the subject of a Good Clinical Practice (GCP) Inspection by the Medicine and Healthcare Products Regulatory Agency (MHRA) following reports of irregularity in the trial results and subjects used in the study trial between November 2006 and January 2007.  The inspection led to an ongoing MHRA investigation, which was reported to the industry’s Ethics Committee.

2   The Insolvency Service administers the insolvency regime, investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they became insolvent. The Service also authorises and regulates the insolvency profession; deals with disqualification of directors in corporate failures; assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees; provides banking and investment services for bankruptcy and liquidation estate funds; and advises ministers and other government departments on insolvency law and practice.  Further information about the work of The Insolvency Service is available from http://www.insolvency.gov.uk

3.  Media enquiries should be directed to:

Denise Rawls,           Press Office Manager              020 7674 6910

Ade Daramy,             Press Officer                         020 7596 6187

Contacts

NDS Enquiries
Phone: For enquiries please contact the above department
ndsenquiries@coi.gsi.gov.uk

Subjects

  • Government

Tags

  • drewitt-barlow
  • insolvency servic