County Londonderry director disqualified

County Londonderry director disqualified

Kwok Lun Fung (55) of Millburn Road, Coleraine was disqualified for five years on 24 February 2022, in the High Court, Belfast in respect of his conduct as a director of Millburn Asia Food Ltd - In liquidation (“the Company”).

The Company operated licensed restaurants and went into liquidation on 12 April 2018 with an estimated deficiency as regards creditors of £237,721.  There was a total of £10 owing as Share Capital, resulting in an estimated deficiency as regards members of £237,731.

The matters of unfit conduct alleged by the Department in relation to Kwok Lun Fung in respect of his conduct as a director of the Company and accepted by the Court were:

  • Causing and permitting the Company to submit inaccurate PAYE / NIC and VAT returns resulting in a loss of monies properly due to the Crown and / or operating a policy of discrimination against the Crown from 2015/16.  The Respondent caused and permitted the Company to retain a total of £227,986.85 due to the Crown as at the date of liquidation.  This represented 96% of the Company’s overall estimated deficiency in respect of PAYE / NIC and VAT properly payable to the Crown.  Furthermore, the Respondent operated a policy of discrimination in that significant payments were made to trade creditors at a time when the HMRC debt continued to increase.

The Department has accepted twenty eight Disqualification Undertakings and the Court has made twelve Disqualification Orders in the financial year commencing 1 April 2021.

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