The Department of Enterprise, Trade and Investment has accepted disqualification undertakings for seven years from the directors of Co Derry joinery and renovation company.
The undertakings came from Damian Francis Mullan (43) and Roisin Mullan (44) both of Mill Road, Drumsurn, Limavady, in respect of their conduct as directors of D F Mullan Joinery Limited (the company).
The company carried on the business of joinery and renovation work including supply and fit of kitchens and other furniture from Ballyquin Road, Dungiven, and went into liquidation on 10 November 2010 with estimated total assets available for preferential creditors of £37,840, liabilities to floating charge holders of £157,422, liabilities to unsecured creditors of £259,729, and an estimated deficiency as regards creditors of £379,311.
After taking into account the losses incurred by members (the shareholders) of the company the total estimated deficiency was £379,313.
The Department accepted the disqualification undertakings from the directors on 18 October last year based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:
causing and permitting the company to retain £184,051 properly due to the Crown consisting of £69,372 in respect of PAYE for the years 2008/09 to 2010/11; £40,109 in respect of NIC for the years 2009/10 and 2010/11; £8,682 in respect of CIS for the year 2010/11; and £65,888 in respect of VAT for the years 2008/09 to 2010/11;
causing and permitting themselves to be paid excessive remuneration from the Company to the detriment of the general body of creditors.
The Department has accepted 80 disqualification undertakings and the court has made 10 orders disqualifying directors in the financial year commencing 1 April 2013.
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