Mr Drury, 49, of Lutterworth, Leicestershire, has had to give an undertaking to the secretary of state for business, innovation & skills (BIS), not to act as a director of a limited company from until February 2019.
Diamond Technique went into administration on 22 December 2010 owing creditors £160,596. An investigation by the Insolvency Service found that prior to administration Mr Drury made payments of more than £100,000, including £60,000 to himself from the company account, rather than paying debts due to other creditors.
Mr Drury met an insolvency practitioner in August 2010 in connection with Diamond’s trading and financial position and received advice on measures to save the company from immediate administration.
Following this meeting, in the period from 28 September 2010 up to administration, Mr Drury paid £60,000 to himself, on top of his regular salary, as well as £46,750 to another individual and £6,000 to a relative.
This was despite Diamond owing trade creditors more than £25,000 by 30 September 2010, and at least a further £13,850 by 30 November 2010. These debts remained unpaid at administration. The company also failed to pay any of its tax due to HMRC after September 2010.
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