The Department for the Economy (the Department) has accepted a disqualification undertaking from the Director of a business which fully fitted out interiors of commercial and residential property.
The undertaking was received for seven years from Vincent Maurice McKenna (49) of Moneygrain Road, Coleraine, in respect of his conduct as a director of Intec (Contract Interiors) Limited (“the Company”).
The Company operated in fully fitting out interiors of commercial and residential property for the construction industry from Crebilly Business Park, Bog Road, Ballymena and went into Liquidation on 12 December 2013 with no assets available for creditors, liabilities to unsecured creditors of £973,783 and an estimated deficiency as regards creditors of £973,783. After taking into account the losses incurred by members (the shareholders) of the Company the estimated total deficiency was £973,795.
The Department accepted the disqualification undertaking from Vincent Maurice McKenna on 27 April 2017 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:
failing to maintain and/or preserve and/or deliver up full accounting records in accordance with section 386 of the Companies Act 2006, thereby rendering the Department unable, inter alia, to investigate fully the circumstances leading to the failure of the company;
submitting a materially inaccurate and misleading statement of affairs.
The Department has accepted four Disqualification Undertakings in the financial year commencing 1 April 2017.