Northern Ireland director banned after water firm Rocwell folds with £500k debts
The boss of a Co Tyrone company that formerly traded as Rocwell Mineral Water has been disqualified from working as a director after the business went bust owing nearly £500,000.
Brian Quinn (62), from Limehill Road in Pomeroy, accepted a boardroom ban of five years from the Department for the Economy over his conduct at the helm of Hillzone Products Ltd, which also made water coolers.
The firm, which was set up in 2010, had assets of £16,000 when it went into liquidation in 2014. It owed preferential creditors nearly £9,000, and unsecured creditors almost £503,800. With assets taken into account, it had debts of just under £500,000.
The business traded as Rocwell Natural Mineral Water Ltd until 2013, when it changed its name to Hillzone.
The Rocwell name is now used by another water company - though Quinn is no longer a director of it. A younger Brian Quinn (25), of the same address in Pomeroy, is still a director.
During proceedings, Quinn admitted to misconduct as a director including holding back around £358,000, which was due to the Crown in PAYE, national insurance contributions and VAT.
He also acknowledged during proceedings that he had failed to learn from previous insolvency.
Quinn additionally failed to file accounts and annual returns on time.