A property developer who deceived four individuals and deprived creditors of hundreds of thousands of pounds has had a number of bankruptcy restrictions imposed on him.
Glenn Armstrong was given a bankruptcy restrictions order (BRO) for 12 years at the High Court last week, following an investigation by the Insolvency Service.
This will mean that he is unable to borrow over £500 without informing the lender that he is subject to extended restrictions or cannot act as a company director without the court’s permission for 12 years under the order.
Bankruptcy proceedings began against Armstrong in 2018 following a creditor petition.
The proceedings found that Armstrong had offered false and misleading information to four individuals to allow him to secure £273,000.
Armstrong signed an undertaking with the Financial Conduct Authority (FCA) in December 2018, where he said he would not enter into any further loan agreements directly or through his companies.
He was declared bankrupt in February 2021, and the 64-year-old had been subject to an 18-month interim BRO secured in August 2022.
Joe Sullivan, official receiver at the Insolvency Service, said: “Glenn Armstrong’s conduct in misleading investors was unacceptable and we are pleased to have secured stringent bankruptcy restrictions against him.
“The 12-year bankruptcy restrictions order, which follows on from an interim 18-month BRO, reflects the seriousness of the case and misconduct identified by the Insolvency Service.
“We will not hesitate to take robust action when financial wrongdoing is uncovered.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
