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Company director disqualified

A company director from Co Londonderry has been disqualified for eight years, the Department of Enterprise, Trade and Investment (DETI) said.

DETI accepted the disqualification of Michael Thomas Logue (36) of Urbalshinny Road, Maghera in respect to his conduct as a director of Lomic Manufacturing Limited.

The company went into liquidation in August 2007 with estimated assets of £6,200, liabilities of £721,200 to non-preferential creditors and an estimated deficiency of £715,000 owed to creditors.

The department accepted the disqualification undertaking from Mr Logue on January 28 2010 based on unfit conduct which, for the purposes of the procedure, was not disputed. This included failing to fully co-operate with the Official Receiver and failing to file a statement of affairs for the company at the date of its winding up.

DETI said Mr Logue caused and permitted the company to fail to file annual accounts in three financial years and also caused and permitted the company to fail to pay £72,758.93 of debts payable to the Crown.