The Department for the Economy (the Department) has accepted a disqualification undertaking from the Director of a metal structures manufacturing business.
The undertaking was received for four years from Ann Parks (77) of Wyncroft Heights, Banbridge in respect of her conduct as a director of Annesborough Engineering Limited (“the Company”).
The Department for the Economy has previously accepted a disqualification undertaking for 14 years from another director of the Company.
The Company operated as a manufacturer of metal structures from Annesborough Industrial Estate, Lurgan and went into liquidation on May 12, 2015 with estimated total assets available for creditors of £Nil, liabilities to unsecured creditors of £250,512 and an estimated deficiency as regards creditors of £250,512.
After taking into account the losses incurred by members (the shareholders) of the Company the estimated total deficiency was £250,513.
The Department accepted the disqualification undertaking from Ann Parks on February 8, 2018 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:
– permitting a third party to act as a de-facto director of the Company during the period 24 June 2008 to 12 May 2015 in the knowledge that the third party was disqualified from so acting;
– causing and permitting the Company to retain Crown monies in the sum of £105,969 for the period 2009/10 to 2012/13 and operating a policy of discrimination against the Crown;
– failing to file annual accounts for the years ended 24 December 2010 and 24 December 2011 within the prescribed periods and failing to file accounts for the years ended 24 December 2012 and 24 December 2013;
– failing to file Annual Returns for the periods ended 24 June 2011 to 24 June 2013 within the prescribed periods.
The Department has accepted 30 Disqualification Undertakings and the Court has made five orders disqualifying directors in the financial year commencing 1 April 2017.