A WOMAN whose East Riding investigation and security business crashed with debts of nearly £85,000 has agreed to a five-year ban on holding a directorship of any company.

Valerie Lockhart Mallinson (formerly Greig) gave the undertaking to the Insolvency Service because of her "unfit conduct" as a director of MG (GB) Limited which operated out of Fold Court, Buttercrambe, near Stamford Bridge.

Her business was placed into voluntary liquidation on December 5, 2002, with estimated debts of £84,558.

She agreed at an Insolvency Service hearing that she had held back VAT from Customs and Excise to the tune of at least £71,619 plus £17,257 worth of PAYE due to the Inland Revenue.

Ms Mallinson, who lives in Halifax, also failed to keep accurate accounting records for MG.

The disqualification means that she cannot be a director of a company or directly or indirectly form or manage a new company until 2010.

Updated: 11:29 Friday, February 18, 2005