The Department of Enterprise, Trade and Investment (the Department) has accepted a disqualification undertaking for six years from Kieran Murphy, 42, of Stranmillis Wharf, Belfast in respect of his conduct as a director of Ashley Decorators Limited.
The company carried on a painting and decorating business from Malone Avenue, Belfast, and went into liquidation on 3 April 2008 with estimated assets of £200, liabilities of £609,514 to non-preferential creditors and an estimated deficiency as regards creditors of £619,314. After taking into account the losses incurred by members (shareholders, including the directors) of the company the total estimated deficiency was £619,315.
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The Department accepted the disqualification undertaking from Kieran Murphy on 27 July 2010 based on the following unfit conduct that solely for the purposes of the disqualification procedure was not disputed.
He failed to fully co-operate with the Official Receiver in contravention of Article 199 (2) of the Insolvency (Northern Ireland) Order 1989 in that he failed to submit a Statement of Affairs and other information requested from him
He also permitted the Company to fail to pay £156,860.59 of debts properly payable to the Crown and misused a bank account held with First Trust, in that in the period 1 June 2007 to 27 March 2008, 35 cheques totalling £94,906.94 were dishonoured upon presentation and fees totalling £926 were charged in respect of these and that in the period 15 June 2007 to 25 March 2008, 17 direct debits totalling £11,684.71 were returned unpaid and fees totalling £190 were charged in respect of these.
He also failed to file annual accounts for the Company for the period ended 31 March 2007 and did not file annual returns for the years ended 9 July 2006 and 9 July 2007.
(BMcC/GK)
