Disqualified for 13 years
A BANBRIDGE director has been disqualified for 13 years by the High Court, Belfast in respect of his conduct as a director of a Co Armagh metalwork business.
Clive Alexander Parks (68) of Wyncroft Heights, was disqualified on 20 September 2012 in respect of his conduct as a director of Artmet Fabrication Ltd (“the Company”).
The Department of Enterprise, Trade and Investment had previously accepted a disqualification undertaking for seven years from another director on 27 May, 2011, in respect of his conduct as a director of the same company.
The Company carried on the business of the supply and installation of metalwork to the construction industry in both Northern Ireland and Southern Ireland from Annesborough Industrial Estate, Lurgan, and went into liquidation on 23 April, 2009, with total assets of £NIL, liabilities of £165,000 to the floating charge holders, liabilities of £28,483 to preferential creditors, liabilities to unsecured creditors of £2,845,570, and an estimated deficiency as regards creditors of £3,039,053. After taking into account the losses incurred by members (the shareholders) of the Company the total estimated deficiency was £3,039,054.
The matters of unfit conduct alleged by the Department of Enterprise, Trade and Investment (the Department) in relation to Clive Alexander Parks in respect of his conduct as a director of the Company and accepted by the Court included:
· causing and permitting the Company to retain Crown monies in the sum of £828,649 consisting of £370,847 in respect of PAYE and £483,553 in respect of NIC for the years 2004/05 to 2008/09 less Crown Set Off of £25,751;
· causing and permitting the Company to retain Revenue Commissioners monies in the sum of £1,087,314 consisting of £59,736 in respect of PAYE for the years 2006 to 2009; £101,693 in respect of PRSI for the years 2005 to 2009; and £926,914 in respect of VAT for the years 2005 to 2008 less £1,029 in respect of RCT30;
· and causing and permitting the Company to fail to file Annual Returns for the years ended 12 February 2002, 12 February 2005, 12 February 2006 and 12 February 2008 within the prescribed period and to fail to file Annual Returns for the years ended 12 February 2007 and 12 February 2009 at all.
The Department has accepted 53 Disqualification Undertakings and the Court has made 21 orders disqualifying directors in the financial year commencing 1 April 2012.