Computer games firm directors disqualified
Published 26/08/2009 | 07:39
Bosses of a computer games company who carried on trading when they should have known the business was insolvent and ran up debts of over £300,000 have been disqualified as directors.
The Department of Enterprise, Trade and Investment said it had accepted a disqualification undertaking from Fiona Mulhern (37), of Buchanan Villas, Omagh, and David Baird (60), of Clanabogan Road, Omagh, in respect of their conduct as company directors.
They established Omagh Business Centre Ltd in January 2004 and it sold computer games from Market Street in Omagh. It went into liquidation just over three- and-a-half years later with debts of over £326,000. Within a year of starting the first of over 50 direct debits — for more than £133,000 — was not paid by their bank and a further 60 cheques for more than £116,000 were dishonoured in the last months of operation. The reasons for disqualification were not disputed by the directors.
DETI said they included:
- Causing and permitting the company to continue trading to the detriment of creditors at a time they knew or ought to have known that it was insolvent.
- Failing to pay over £7,250 to the Crown in respect of VAT and National Insurance.
- Misusing bank accounts in HSBC and First Trust bank by issuing the dud cheques and dishonoured direct debits.
- Failing to file annual returns on with the Companies Register.
- Failing to fully co-operate with the liquidator.