Northern Ireland company boss and mum banned from boardroom over massive debts
The former boss of Northern Ireland company which went bust owing over £2.5m has received a lengthy boardroom ban for misconduct.
Micheal Gerard Flynn (35), from Co Monaghan, and his mother, also a director, were investigated by the Insolvency Service after meat firm Flynn Fine Foods, based in Co Fermanagh, went out of business in 2013.
Mr Flynn, from Mullitagorry in Smithboro, has been disqualified as a director for 11 years.
And Ann Teresa Flynn (63), of Magherarney in Smithboro, was banned from the boardroom for four years.
In proceedings brought by the Department for the Economy, Mr Flynn acknowledged misdemeanours as a director including failing to account for all assets of the company and also misappropriating and/or seeking to put assets beyond the reach of the administrators of the company.
Around 40 jobs were lost when Flynn Fine Foods in Roslea shut down in 2013.
It had been founded by Micheal Flynn Snr in the 1970s and went on to supply meats to some of Ireland's top supermarkets. Its products included cooked meats, sausages, bacon and pork chops.
The company was registered at Companies House as Empire Meats Ltd, though it traded as Flynn Fine Foods from Dernawilt Road and Derryvollen in Roslea. It went into administration in September 2013.
Mrs Flynn accepted instances of unfit conduct, including failing to inform herself about what was going on with the company and therefore failing to prevent Micheal Flynn from misappropriating or seeking to put assets beyond the reach of the administrators.
She had also failed to bring oversight and control to how the company was run and failed to ensure the firm filed accounts on time and annual returns on time.
Mr Flynn accepted other instances of unfit conduct including causing or permitting false invoices to be generated, and causing or permitting the unauthorised advance of monies from a financial provider.
He also presented cheques, direct debits and standing orders when there was not enough money to cover them, and submitted an inaccurate and misleading statement of affairs about the company.
And Mr Flynn accepted that he had not filed accounts and annual returns on time.