Holiday parks boss owing over £19m receives 14-year directorship ban

Article summary

The Insolvency Service has announced that the director of Walsham Chalet Park Limited (t/a the Dream Lodge Group), Simon Moir, has been banned from acting as a director for 14 years. Walsham Chalet Park ran an investment scheme allowing people to invest in part of, or an entire holiday chalet, in return for returns based on the rental income. However, following the company’s insolvency in January 2019, the company owed £19.4m to investors. £14.2m of the investments were owed to 161 investors despite lodges not being built and there being ‘little or no prospect of them being completed’. During Moir’s 14-year ban, he will be disqualified from acting as a director, and from directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company.