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01/07/2010
Software Boss Faces Disqualification
A Wicklow-based director in an NI computer software development business that went bust has been disqualified from business for five years.
John Molloy, 45, from Enniskerry, Co Wicklow was in the High Court in Belfast, in respect of his conduct as a director of e-blana enterprise group (NI) limited.
The firm was incorporated on 12 August 1997 and commenced trading in the business of software development.
However, it went into liquidation on 7 June 2007 with no assets, liabilities of £518,395 to preferential creditors, liabilities of £15,807 to non preferential creditors and an estimated deficiency as regards creditors of £534,202.
After taking into account the losses incurred by members (shareholders, including the directors) of the company the total deficiency was £537,202.
The matters of unfit conduct, alleged by the Department of Enterprise, Trade and Investment in relation to John Molloy in respect of his conduct as a director of e-blana enterprise group (NI) limited were in connection with him causing and permitting the company to retain monies to the value of £382,916.15 which were properly due to the Crown, being £176,490.13 of PAYE and £206,426.02 of NIC for the years 2003/04 to 2005/06.
He was also accused of the misuse of bank accounts at Ulster Bank and First Trust Bank in that a total of 27 cheques with a value of £393,056.50 were returned unpaid in the period 31 October 2002 to 22 September 2005, one cheque with a value of £25,000 was subsequently returned unpaid upon further representation and in the period 30 May 2003 to 26 October 2005 31 direct debits with a total value of £55,402 were returned unpaid.
The Department accepted nine Disqualification Undertakings and the Court made an order disqualifying one director in the financial year commencing 1 April 2010 having previously accepted a disqualification undertaking for five years from another director on 19 January 2010, in respect of his conduct as a director of the same company.
(BMcC/GK)
John Molloy, 45, from Enniskerry, Co Wicklow was in the High Court in Belfast, in respect of his conduct as a director of e-blana enterprise group (NI) limited.
The firm was incorporated on 12 August 1997 and commenced trading in the business of software development.
However, it went into liquidation on 7 June 2007 with no assets, liabilities of £518,395 to preferential creditors, liabilities of £15,807 to non preferential creditors and an estimated deficiency as regards creditors of £534,202.
After taking into account the losses incurred by members (shareholders, including the directors) of the company the total deficiency was £537,202.
The matters of unfit conduct, alleged by the Department of Enterprise, Trade and Investment in relation to John Molloy in respect of his conduct as a director of e-blana enterprise group (NI) limited were in connection with him causing and permitting the company to retain monies to the value of £382,916.15 which were properly due to the Crown, being £176,490.13 of PAYE and £206,426.02 of NIC for the years 2003/04 to 2005/06.
He was also accused of the misuse of bank accounts at Ulster Bank and First Trust Bank in that a total of 27 cheques with a value of £393,056.50 were returned unpaid in the period 31 October 2002 to 22 September 2005, one cheque with a value of £25,000 was subsequently returned unpaid upon further representation and in the period 30 May 2003 to 26 October 2005 31 direct debits with a total value of £55,402 were returned unpaid.
The Department accepted nine Disqualification Undertakings and the Court made an order disqualifying one director in the financial year commencing 1 April 2010 having previously accepted a disqualification undertaking for five years from another director on 19 January 2010, in respect of his conduct as a director of the same company.
(BMcC/GK)
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