Belfast Telegraph

Family banned from boardroom

By Margaret Canning

Three members of the same family who ran a building firm in Tyrone were given boardroom bans for misconduct including buying a helicopter and rally car they couldn't afford.

Married couple Lorna Irene (56), and Samuel Hugh Moore (57), from Limehill Road in Pomeroy, and their son Stephen Jonathan (34), whose address was given as Derrygonigan Road in Cookstown gave disqualification undertakings to the Department of Enterprise, Trade and Investment after S H Moore and Sons went bust owing £5m.

The trio accepted their conduct had been unfit because they had deliberately filed false accounts for the year ending August 31, 2007, in which they understated their share capital and net assets by nearly £100,000.

They also accepted false invoices from companies belonging to other family members so that they could reduce the liability of those other companies.

Father, mother and son also owned up to misusing company funds by lending £1.6m to connected companies without security. They ran up excessive costs by buying a helicopter and rally car costing £496,800 and £470,000. When those items were sold, creditors lost £561,300.