Boardroom ban for company bosses who left £1m debt
Three brothers who ran a waste management company in Co Antrim have been banned from the boardroom for six years each.
Stephen Patrick McLarnon, aged 39, from Drumard Hill in Gulladuff, Michael George McLarnon (46), from Hazeldene Park and Paul James McLarnon (50), of Grange Road, were directors of Inclusive Solutions Waste Management in Newtownabbey.
Their company Inclusive Solutions Waste Management went bust in April 2010 owing £997,000.
The trio admitted wrongdoing including filing false accounts, withholding £321,000 which they owed to the Crown, filing accounts late and in some years, failing to file any annual returns.
Meanwhile, the boss of a fire prevention company has been given a nine-year ban after his firm went bust owing over £200,000. Geoffrey John Dougan, from Station Road in Craigavad, agreed to be disqualified after accepting instances of wrongdoing, including taking money owed to his company and ploughing it into a new business.
His main business, Eurotec Fire and Safety, sold fire prevention systems from University Street in Belfast.
It went into liquidation in November 2009 with assets of £62,000. But it owed £266,200 to unsecured creditors and £7,300 to preferential creditors.
He also failed to pay £174,700 in income tax, VAT and National Insurance Contributions.