County Down director agrees to disqualification

Date published: 21 February 2024

The Department for the Economy (the Department) has accepted a disqualification undertaking from the director of a company involved in repair and maintenance of aircraft and spacecraft.

Director Disqualification Undertaking
Director Disqualification Undertaking

The undertaking was received for eleven years from Kieran Mooney (75) of Saratoga Avenue, Newtownards, in respect of his conduct as a director of Mooney Aerospace Ltd (“the Company”).

The Company was involved in repair and maintenance of aircraft and spacecraft with a registered office at 2 Market Place, Carrickfergus, Co Antrim, BT38 7AW. The Company went into Liquidation on 30 June 2021 with an estimated deficiency as regards creditors of £18,100.  There was a total of £1 owing as Share Capital, resulting in an estimated deficiency as regards members of £18,101.

The Department accepted the disqualification undertaking from Kieran Mooney on 29 January 2024 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:

  1. Applying for and obtaining a Bounce Back Loan of £18,000 from Ulster Bank which he knew or ought to have known he was not entitled to.  Firstly, he was dishonest when applying for the Bounce Back Loan in that he certified that his annual turnover was £72,000 when it was £37,928.28 for the 2019 calendar year.  Mooney Aerospace Ltd obtained the benefit of an additional £8,518 as a result.  Secondly, he knew when applying for the Bounce Back Loan, that Mooney Aerospace Ltd had not been impacted by Covid-19 as the Company had ceased trading on 01 January 2020. Furthermore, he knew and / or ought to have known that the Bounce Back Loan would not provide an economic benefit to the Company as Mooney Aerospace Ltd had already ceased trading at the date in which he applied for the loan. Mooney Aerospace Ltd was neither entitled to claim nor receive, financial assistance from a Bounce Back Loan; and
  1. Causing and permitting the misapplication of company funds and / or acting in a manner to benefit himself rather than the Company by using £15,311.56 of the Bounce Back Loan for his own personal benefit; and
  1. Causing and permitting the Company to fail to comply with the relevant legislation in that the confirmation statement for the year ending 16 September 2020 was never filed.

The Department has accepted sixteen Disqualification Undertakings and the Court has made eight Disqualification Orders in the financial year commencing 1 April 2023.

Notes to editors: 

1. Insolvency Practitioners acting as voluntary liquidators, administrative receivers and administrators have a duty to report unfit conduct to the Insolvency Service within the Department for the Economy.

2. The aim of the Department is to bring disqualification proceedings against those directors of failed companies who have abused the privilege of limited liability status through negligence, incompetence or lack of commercial probity. The legislation contained in the Company Directors Disqualification (Northern Ireland) Order 2002 (“the 2002 Order”) is for the protection of the public and trading community but its operation should not inhibit genuine enterprise.

3. In cases where a person is subject to either a Disqualification Order made by the Court or a Disqualification Undertaking accepted by the Department, that person shall not be a director of a company, act as a receiver of a company's property or in any way, whether directly or indirectly, be concerned or take part in the promotion, formation or management of a company unless he has the leave of the High Court. A disqualified person cannot obtain permission to act as an Insolvency Practitioner.

4. Article 9 of the 2002 Order provides that where a director is found to be unfit he must be disqualified for a minimum period of two years, up to a maximum of fifteen years. The Courts have decided that the level of seriousness of unfit conduct can fall into three brackets with the top bracket of periods over ten years reserved for particularly serious cases, six to ten years reserved for cases which do not merit the top bracket and two to five years for cases where, although disqualification is mandatory, the case is less serious.

5. The 2002 Order also allows directors, with the agreement of the Department, to avoid the need for a court hearing by offering an acceptable Disqualification Undertaking. This has exactly the same legal effect as a Disqualification Order made by the court, and will usually include a schedule identifying the director’s unfit conduct. The consequences of breaching a Disqualification Undertaking are the same as those for breaching a Disqualification Order.

6. If anybody contravenes a Disqualification Order or breaches their Disqualification Undertaking they may be committing a criminal offence and could go to prison for up to two years or face a fine or both. Any person with information to suggest that a disqualified person has acted in contravention of this provision should contact The Insolvency Service’s Directors Disqualification Unit on 028 90 548582.

7. The period of disqualification commences at the end of 21 days beginning with the day the Disqualification Undertaking was accepted by the Department.

8. To keep up to date with news from the Department for the Economy you can follow us on the following social media channels:

3. For media enquiries contact the Department for the Economy Press Office at  

4. The Executive Information Service operates an out of hours service for media enquiries only between 1800hrs and 0800hrs Monday to Friday and at weekends and public holidays. The duty press officer can be contacted on 028 9037 8110.

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