The Department for the Economy has accepted a disqualification undertaking from the director of a Tyrone bottled water and water cooler company.
The undertaking was received for five years from Brian Quinn (62) of Limehill Road, Pomeroy, in respect of his conduct as director of Hillzone Products Ltd .
The company manufactured and supplied bottled water and water coolers from Limehill Road, Pomeroy, and went into liquidation on 17 June 2014 with estimated total assets available for creditors of £16,000, liabilities to preferential creditors of £8,975, liabilities to unsecured creditors of £503,797 and an estimated deficiency as regards creditors of £496,772. After taking into account the losses incurred by members (the shareholders) of the Company, the estimated total deficiency was £496,782.
The department accepted the disqualification undertaking from Brian Quinn on 9 November 2016 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:
Causing and permitting the company to retain £358,573 properly due to the Crown consisting of £98,836 in respect of PAYE for the tax years 2010/11, 2011/12, 2013/14 and 2014/15; £159,443 in respect of NIC for the tax years 2010/11 to 2014/15 inclusive; and £100,294 in respect of VAT for the tax years 2010/11 to 2013/14 inclusive;
Failure to learn from a previous insolvency and / or repeating a similar pattern of unfit conduct;
Failure to comply with the relevant legislation in that accounts for the year ended 30 September 2012 were not filed within the prescribed period;
Causing and permitting the Company to fail to comply with the relevant legislation in that Annual Returns for the years ended 08 April 2011 and 08 April 2013 were not filed within the prescribed period and Annual Returns for the year ended 08 April 2014 were never filed.
The Department accepted 33 Disqualification Undertakings and the Court made three orders disqualifying directors in the financial year commencing 1 April 2016.