Loughlin Michael Shannon (75) who ran hospital fittings and equipment supplier Medisafe Systems Ltd has been caught breaching a 3-year disqualification following his conduct as a director of Aycliffe Analytical Service Limited. Shannon was previously banned for ‘trading to the detriment of the tax authorities’.
Rob Clarke, Chief Investigator for the Insolvency Service, said: “Loughlin Shannon thought he could get away with disregarding his ban when he continued to act as a director of Medisafe Systems. However, his actions caught up with him when the company went into insolvency and his misconduct came to light.
“A nine-year ban is a significant amount of time to be disqualified and should serve as a stark warning to other directors to respect the terms of any undertaking you sign.”
Loughlin Shannon is now banned for nine years from directly or indirectly becoming involved in the formation or management of a company.