Manchester restaurateur disqualified for mismanaging accounts

14 March 2017 by
Manchester restaurateur disqualified for mismanaging accounts

Manchester restaurateur Kong Yew Cheng has been disqualified from acting as a company director for five years.

The Insolvency Service launched an investigation into the record keeping of the China Banquet, which ceased trading some time ago, and concluded that Cheng had mismanaged the company's accounts, and failed to ensure proper books and financial records were kept.

As a result, important information about the China Banquet's finances and activities could not be explained, including the date that it ceased trading, its income and expenditure, its assets and liabilities, and the recipients and purpose of various payments made from the company's bank account during the period of trade totalling £144,816.

Some £68,625 of that was in the form of payments to three individuals, while the recipients of £61,460 in cheque payments remain unknown.

The restaurant went into liquidation in January 2015.

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