Local transport company directors disqualified for eight years
Two local directors of Tinnelly International Transport Limited have this month been disqualified for eight years. The two, a man aged 47 and woman aged 49, are from Kilbroney Road, Rostrevor, Newry and appeared on High Court in Belfast earlier this year.
The company went into administration on the 24th of February 2009, and was subsequently liquidated on the 1st of March 2011. The company had an estimated assets value of £1,905,000, however it had an estimated deficiency of around £4,531,392.
The Department of Enterprise, Trade and Investment alleged that the matters of unfit conduct in relation to the two directors were:
- Failing to submit a Statement of Affairs in respect of the Company;
- Causing and permitting the Company to be financed by the non-payment of £568,438.87 of debts properly due to the Crown consisting of £241,989.89 of PAYE, £299,752.96 of NIC for the years 2007/08 and 2008/09, and £26,696.02 of VAT for the quarter periods 07/2008 to 04/2009;
- Causing and permitting the Company to fail to pay over £60,208.65 of insurance settlement monies received in respect of the lost cargo belonging to Clearway Disposals Limited to Clearway Disposals Limited;
- Failing to file annual accounts for the year ended 31 July 2007.
The court found the allegations to be true with the Master in the High Court commenting that the directors “have demonstrated a lack of probity particularly with regard to the issue of failing to pay over insurance monies properly due to a third party”.
Would you like to advertise your business on Newry Times and reach thousands of people every day? Contact the Newry Times office on 028 4062 6520 or email Paul: firstname.lastname@example.org