South Belfast director disqualified for five years

The Belfast High Court has disqualified a South Belfast man on the grounds of his actions while being company director for five years.

The case against James Gibbons was brought by the Insolvency Service of the Department of Enterprise, Trade and Investment under the Companies (NI) Order 1989 for his conduct as a director of Harlow Investments Limited and of Akron Investments Limited.

In disqualifying Gibbons the Court’s findings included:

• Failure to have accounts prepared and filed in the Companies Registry for both companies for the years ended 30 June 1994 to 30 June 1997



• Allowing himself to be recorded as a sole director of both companies in order to disguise the involvement in those companies of an individual who was an undischarged bankrupt



• Failure to address adequately the affairs of both companies and allowing himself to be recorded as a director of them without undertaking the duties which such a position entails

Harlow Investments Ltd, which traded as a property development company, built a nursing home at a site it had purchased at Lecale Lodge in Downpatrick. It was wound up by the High Court on March 11, 1999 with an estimated deficiency to creditors of £285,572. Its only creditor was The Commissioners of Inland Revenue.

Akron Investments Ltd traded as an investment holding company for property. The company built a nursing home at a site it had purchased at Strangford Road also in Downpatrick. Akron Investments Ltd was wound up by the High Court of April 13, 2000 with an estimated deficiency to creditors of £240,098. Its only creditor was also The Commissioners of Inland Revenue. (MB)