Residential estate agency services in the Berkshire area: director disqualification
The CMA has secured the disqualification of 2 directors of estate agencies found to have broken competition law.
Court proceedings seeking director disqualification
15 June 2020: The proceedings against Mr Jones and Mr Mackenzie were discontinued following the acceptance by the CMA of legally binding disqualification undertakings from Mr Jones and Mr Mackenzie.
Mr Jones has given a disqualification undertaking not to act as a director of any UK company for 6.5 years from 15 June 2020. Mr Jones is a director of Richard Worth Holdings Limited and Richard Worth Limited (in administration).
- (15.6.20)
Mr Mackenzie has given a disqualification undertaking not to act as a director of any UK company for 6.5 years from 30 June 2020. Mr Mackenzie is a director of Michael Hardy & Company (Wokingham) Limited, Michael Hardy & Company (Lettings) Limited and Geocharbert UK Limited.
- (15.6.20)
26 March 2020: The Competition and Markets Authority (CMA) issued proceedings in the High Court of Justice, Business and Property Courts seeking the disqualification of two directors:
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Mr Stephen Jones, a director of Richard Worth Holdings Limited and Richard Worth Limited (in administration)
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Mr Neal Mackenzie, a director of Michael Hardy & Company (Wokingham) Limited, Michael Hardy & Company (Lettings) Limited and Geocharbert UK Limited.
The proceedings against both directors arise from the CMA’s decision dated 17 December 2019 that Richard Worth and Michael Hardy, together with two other estate agencies, entered into an anti-competitive agreement to fix a minimum level of commission fees for the provision of residential sales services in the Berkshire area.
The CMA issued these proceedings under section 9A of the Company Directors Disqualification Act 1986 following an investigation into the directors’ conduct in relation to the breach of competition law. It is now for the court to decide whether to make a disqualification order against each director.
Provided they continue to comply with the terms of their leniency agreement, the CMA will not seek the disqualification of the co-operating directors of the two other estate agencies, which qualified for leniency under the CMA’s leniency policy.
Under the Company Directors Disqualification Act 1986, the CMA may seek the disqualification of an individual from holding a company directorship or performing certain roles in relation to a company for a specified period where that individual was a director of a company which has breached competition law and their conduct makes them unfit to be a director. The CMA may seek disqualification by court order or may accept a legally binding undertaking.
Further details about the CMA’s investigation can be found on the Residential estate agency services in Berkshire case page.
Contacts
CMA press office
press@cma.gov.uk or call 020 3738 6460
Assistant project director
Max Valk, max.valk@cma.gov.uk or call 020 3738 6847
Updates to this page
Last updated 15 June 2020 + show all updates
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Disqualification undertakings from Mr Stephen Jones and Mr Neal Mackenzie have been published to the page.
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First published.