Keep up with Armagh i

Disqualification for director of Co Armagh company which went into liquidation

Estimated total deficiency of £250,513 when company went into liquidation

Money

The Department for the Economy has accepted a disqualification undertaking from the director of a metal structures manufacturing business which went into liquidation in 2015.

The undertaking was received for 14 years from 73-year-old Clive Parks, of Wyncroft Heights, Banbridge, in respect of his conduct as a director of Annesborough Engineering Limited.

The company operated from Annesborough Industrial Estate in Lurgan.

It went into liquidation on May 12, 2015 with no assets available for creditors, estimated liabilities to unsecured creditors of £250,512 and an estimated deficiency as regards creditors of £250,512.

After taking into account the losses incurred by shareholders of the company, the estimated total deficiency was £250,513.

The Department accepted the disqualification undertaking from Clive Parks based on the following ‘unfit conduct’ which was not disputed:

  • acting as a de-facto director of the company during the period 24 June 2008 to 12 May 2015 whilst disqualified from acting as a director;
  • failing to learn from previous insolvencies and repeating a pattern of unfit conduct;
  • causing and permitting the company to retain Crown monies in the sum of £105,969 for the period 2009/10 to 2012/13 and operating a policy of discrimination against the Crown;
  • failing to file annual accounts for the years ended 24 December 2010 and 24 December 2011 within the prescribed periods and failing to file accounts for the years ended 24 December 2012 and 24 December 2013;
  • failing to file annual returns for the periods ended 24 June 2011 to 24 June 2013 within the prescribed periods.

The Department has accepted 25 disqualification undertakings and the court has made five orders disqualifying directors in the financial year commencing April 1, 2017.

Become a member

Support local, independent businesses by becoming an independent member.

Become a member

Most read today

More in Banbridge