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Karen Mortimer and Joanna Seawright have been disqualified for their part in a scheme designed to subvert insolvency legislation
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Both facilitated the Atherton corporate rescue scheme by becoming directors of a combined 138 struggling companies without independently verifying their financial positions, failing to look into the location of more than £42 million in assets and leaving creditors with combined debts exceeding £67 million
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Mortimer and Seawright did not dispute their misconduct and agreed to be disqualified for seven years rather than taking the case to court
Two key enablers of a scheme designed to undermine insolvency legislation by allowing business owners to keep their assets and…