Cardiff-based Gwenlais Yvonne Thomas, a director of Ascus Plant Ltd, sold a 拢74,000 concrete pump that was under a hire purchase agreement. She also transferred further assets totalling 拢101,500 to her husband and an associated company for free.
Ascus Plant was then left to go to the wall, going into administration in July 2010.
The disqualification undertaking, which begins on 17 March 2014, prevents 70-year-old Mrs Thomas from directly or indirectly becoming involved in the promotion, formation or management of a company for the duration of the term.
Insolvency Service chief investigator David Brooks said: 鈥淒irectors should know any equipment belonging to the company or on lease or hire from third parties should not be sold for personal gain or given away as it is part of the overall assets for distribution to creditors, yet Mrs Thomas ignored this.
鈥淭his disqualification should serve as a message that it is unacceptable for directors to put themselves above their financial obligations to the company and its creditors鈥.
Got a story? Email news@theconstructionindex.co.uk