Oily Bird
RM is allowed to start again because he has not been banned from acting as a Director of an English limited company, even then i'm sure he could get another 'name'to act as Director but still be in charge as a General Manager.
The law of limiting one's liability to the debts of the company should make prospective creditors beware and pay for publically available accounts but it seems to make them feel secure and jump in head first! Only if he gave personal guarantees will he be dipping into his own pocket.
The same goings-on happened at SECOAT at Manston in 1997 only the sums lost by wannabees were truly collossal.
I have no comments either way regarding RM but it needs a risk-taker to setup and offer these services but their enthusiasm may outreach their business ability. If not for the RM's of this world (love them or hate them) for wannabees it is Hobsons' choice of not giving up the day job unless you have the odd two years spare and £70,000 plus living expenses if you are to realise the dream.