Complex sentence: When Dayman's mini-empire collapsed in 1966 Aulton discovered that he had unwittingly been named as a partner in the record label and this made him liable for its debts, and as a results he had most of his assets seized by creditors.
Split into simpler sentences: When Dayman's mini-empire collapsed in 1966, Aulton discovered that he had unwittingly been named as a partner in the record label and this made him liable for its debts. As a result, he had most of his assets seized by creditors.