Director disqualified for seven years
THE director of a Scarva building supply company has been disqualified from holding a directorship for seven years due to unfit conduct.
James Clements (63) of Acton Road, Scarva, was disqualified in respect of his conduct as a director of Deluxewood Manufacturing Limited.
The company carried on the business of builders’ suppliers from the premises and went into liquidation on July 4, 2008, with estimated assets of £1,928, liabilities of £291,000 to non-preferential creditors and an estimated deficiency as regards creditors of £289,072.
After taking into account the losses incurred by shareholders of the company, the total estimated deficiency was £289,074.
The Department of Enterprise, Trade and Investment accepted a disqualification on January 31 based on a number of failings which were not disputed.
These included failing to co-operate fully with the official receiver in contravention of Article 199(2) of the Insolvency (Northern Ireland) Order 1989 and failing to comply with Section 242 of the Companies Act 1985 (as amended by Section 11 of the Companies Act 1989) by not ensuring accounts for the years ended March 31, 2006, and March 31, 2007, were delivered to the Companies Registry.
In total, the Department has accepted 46 disqualifications undertakings and the court has made 12 orders disqualifying directors in the financial year beginning April 1, 2011.