Boardroom ban for vehicle firm boss with debts of £85k
The boss of a failed vehicle sales and repairs company in Co Antrim has received a boardroom ban of seven years after his business went bust owing £85,000.
Thompson Bailie Caldwell (63) of Hiltonstown Road, Portglenone, was director of a partnership, Caldwell Commercials.
He was banned from acting as a director after owning up to misconduct including withholding more than £20,000 received for the sale of partnership assets.
Another director of the business, which was based at Hiltonstown Road in Portglenone, also faces being disqualified.
The business went into liquidation in January 2012 owing £84,600 to creditors.
As well as failing to account for sales proceeds, Mr Caldwell also acknowledged that he had failed to submit Vat returns on time.
Mr Caldwell also failed to give books and records to the liqudiator.
The Department of Enterprise, Trade and Investment said it had accepted 62 disqualification undertakings - in which the former directors co-operate with the process - in the financial year beginning April 2014.
It has also made 14 orders disqualifying directors in the same period, where the directors have not co-operated.
Directors' disqualification is used as a sanction where directors are deemed to have abused the privilege of limited liability through "negligence, incompetence or lack of commercial probity".
The directors are usually disqualified for between two and 15 years.