A Limavady man has been disqualified for seven years in respect of his conduct as the director of a demolition company.
Joseph Strawbridge (74) of Ballyquin Road, Limavady, County Londonderry was disqualified on 25 February 2016, in the High Court, Belfast in respect of his conduct as a director of Bridge Line Demolition Limited (“the Company”).
The Company carried on the business of demolition and being a licensed carrier of special waste and went into liquidation on 13 May 2010 with estimated total assets available for creditors of £5,295, liabilities to unsecured creditors of £393,233 and an estimated deficiency as regards creditors of £387,938. After taking into account the losses incurred by members (the shareholders) of the Company the estimated total deficiency was £387,939.
The matters of unfit conduct alleged by the Department of Enterprise, Trade and Investment (the Department) in relation to Joseph Strawbridge in respect of his conduct as a director of the Company and accepted by the Court were:
- Causing and permitting the Company to retain £170,407 properly due to the Crown consisting of £29,590 in respect of PAYE for the tax years 2006/07 to 2010/11; £42,651 in respect of NIC for the tax years 2006/07 to 2010/11 and £98,166 in respect of VAT for the tax years 2006/07 to 2009/10;
- Causing and permitting the Company to misuse a bank account by tendering cheques and direct debits to creditors without due regard to the prospect of their being honoured upon presentation.
The Department has accepted 25 Disqualification Undertakings and the Court has made eight orders disqualifying directors in the financial year commencing 1 April 2015.