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Six-year ban for boss after electrical firm V.H. McDevitt & Son closed owing £1.3m

By Margaret Canning

Published 28/09/2016

A Co Down man has been handed a six-year boardroom ban after his electrical firm went bust owing £1.3m
A Co Down man has been handed a six-year boardroom ban after his electrical firm went bust owing £1.3m

A Co Down man has been handed a six-year boardroom ban after his electrical firm went bust owing £1.3m.

Maurice Bridges, of the Square, Portaferry, agreed to be disqualified as a director over his conduct at the helm of V.H. McDevitt & Son Ltd in Belfast.

His wrongful conduct included trading while insolvent and holding back £0.8m in tax owed to the Crown by his company, which was based on the Upper Newtownards Road.

The 56-year-old accepted that he had withheld £788,319, consisting of around £37,000 due in PAYE, around £260,000 in National Insurance contributions, and nearly £491,000 in Vat.

He also failed to file annual returns for four years "within the prescribed periods" and also neglected to produce company accounts for two tax years.

His firm went into administration in August 2014 and was liquidated two years later.

The action against Mr Bridges was brought by the Department for the Economy.

All insolvency professionals are obliged to report unfit conduct by company directors which they encounter in companies to the Insolvency Service, part of the Economy Department.

Disqualification periods range from two years minimum to a maximum of 15 for the most serious cases.

Belfast Telegraph

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