County Down director agrees to disqualification
Date published:
The Department for the Economy (the Department) has accepted a disqualification undertaking from the director of a joinery business.
An Undertaking was received for six years from Colin McMullan (58) of Ballydorn Road, Killinchy, in respect of his conduct as director of Greenwood Specialist Joinery Ltd.
The Company operated in the business of the manufacture of office and shop furniture from premises at Quarterlands Road, Drumbo, Lisburn and went into liquidation on 8 August 2017 with an estimated deficiency as regards creditors of £364,958.
The Department accepted the disqualification undertaking from Colin McMullan on 6 October 2020 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:
- causing and permitting Greenwood Specialist Joinery Ltd. to trade whilst insolvent from 29 August 2014 to the date of liquidation, to the detriment of creditors;
- taking dividends from the company in contravention to the provisions of Article 830 of the Companies Act 2006.
There have been seven Undertakings accepted by the Department in the Financial year commencing 1 April 2020.