Belfast Telegraph

Sunday 20 April 2014

Tile firm managers banned from acting as company directors

Two men and one woman have been banned from acting as company directors over their conduct as managers of a tile firm in Co Down.

The Department of Enterprise, Trade and Investment (DETI) said it had accepted disqualification undertakings from William John Ferguson (51) of Mourne Esplanade, Kilkeel, Sean Martin Connolly (48) of Hollywood Gardens, Newry, and Wendy Elizabeth Maybin (50) of Mill Road, Annalong.

All three were directors of Eurotile Marketing Limited in Annalong, which went into administrative receivership in April 2008 owing £1.6m.

DETI said the three directors have accepted allowing the company to trade for 10 months when they knew, or should have known, that the company was insolvent.

They had also failed to pay VAT, tax and National Insurance contributions totalling £283,900.

The trio also accepted they had failed to keep proper accounting records, and did not properly monitor the firm's performance.

Mr Connolly, Mr Ferguson and Ms Maybin also accepted that they had allowed 16 cheques worth £173,900 to bounce and had failed to pay nine direct debits worth £7,147.

According to a statement from DETI, they also made payments to shareholders which were contrary to the company's articles of association as they were unlawful and not property declared.