Menu
13/12/2012
Directors Disqualified From NI Property Company
Two directors of a Northern Ireland property company have been disqualified.
The Department of Enterprise, Trade and Investment (DETI) has accepted the disqualifications for eight years of Maurice Colville Stewart, 61, of Moira Road, Ballinderry Upper, Lisburn and Ben Stewart, 35, of Belfast Road, Antrim.
The two were directors of Corinth Developments Limited.
The news came after it was found the company continued buying and letting residential properties as well as developing residential land and properties for sale from 76-78 Church Street, Portadown, Co. Armagh.
The company entered into administration on 16 February 2010 with estimated assets available for floating charge holders of £423, liabilities due to the floating charge holders of £2,296,701, liabilities of £202,018 to unsecured creditors and an estimated deficiency as regards creditors of £2,498,296.
DETI has accepted the disqualification based on the following conduct, as declared by the Northern Ireland Executive:
- failing to maintain and / or preserve and / or deliver up accurate books and records;
- causing the Company to fail to pay over monies collected in rental income to the secured lender, Ulster Bank in breach of covenants contained within the loan agreements with Ulster Bank;
- causing and permitting the Company to fail to pay over a sum of £159,766 which was properly payable to the Crown consisting of £1,151 in respect of PAYE and £1,418 in respect of NIC for the years 2008/09 and 2009/10; and £157,197 in respect of Corporation Tax for the years 2005/06 to 2008/09;
- causing and permitting the Company to fail to comply with Article 371(1) of the Companies (Northern Ireland) Order 1986 in that the Annual Returns made up to 15 May 2003, 30 April 2004, 30 April 2005, 30 April 2006 and 15 May 2008 were filed late; and the Annual Returns made up to 15 May 2007 and 15 May 2009 were not filed;
- failing to prepare and file accounts for the Company for the years ended 15 November 2006, 15 November 2007, 15 November 2008 and 15 November 2009.
(IT)
The Department of Enterprise, Trade and Investment (DETI) has accepted the disqualifications for eight years of Maurice Colville Stewart, 61, of Moira Road, Ballinderry Upper, Lisburn and Ben Stewart, 35, of Belfast Road, Antrim.
The two were directors of Corinth Developments Limited.
The news came after it was found the company continued buying and letting residential properties as well as developing residential land and properties for sale from 76-78 Church Street, Portadown, Co. Armagh.
The company entered into administration on 16 February 2010 with estimated assets available for floating charge holders of £423, liabilities due to the floating charge holders of £2,296,701, liabilities of £202,018 to unsecured creditors and an estimated deficiency as regards creditors of £2,498,296.
DETI has accepted the disqualification based on the following conduct, as declared by the Northern Ireland Executive:
- failing to maintain and / or preserve and / or deliver up accurate books and records;
- causing the Company to fail to pay over monies collected in rental income to the secured lender, Ulster Bank in breach of covenants contained within the loan agreements with Ulster Bank;
- causing and permitting the Company to fail to pay over a sum of £159,766 which was properly payable to the Crown consisting of £1,151 in respect of PAYE and £1,418 in respect of NIC for the years 2008/09 and 2009/10; and £157,197 in respect of Corporation Tax for the years 2005/06 to 2008/09;
- causing and permitting the Company to fail to comply with Article 371(1) of the Companies (Northern Ireland) Order 1986 in that the Annual Returns made up to 15 May 2003, 30 April 2004, 30 April 2005, 30 April 2006 and 15 May 2008 were filed late; and the Annual Returns made up to 15 May 2007 and 15 May 2009 were not filed;
- failing to prepare and file accounts for the Company for the years ended 15 November 2006, 15 November 2007, 15 November 2008 and 15 November 2009.
(IT)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
03 October 2002
Netcom celebrates a winning formula
Netcom Communications continues to go from strength to strength as the company marked its 15th Anniversary in October. Against all the trends, Netcom – one of Ireland’s leading independent telecommunications suppliers – has continued to grow despite the economic downturn in the telecommunications industry.
Netcom celebrates a winning formula
Netcom Communications continues to go from strength to strength as the company marked its 15th Anniversary in October. Against all the trends, Netcom – one of Ireland’s leading independent telecommunications suppliers – has continued to grow despite the economic downturn in the telecommunications industry.
02 March 2020
15 Jobs As Limerick Tech Firm Invests In L'Derry
A technology company based in the Republic of Ireland is to expand its operations across the border with the creation of 15 new jobs in L'Derry. Deveire will mark 10 years in business by investing in Northern Ireland for the first time with a new Software Development Centre.
15 Jobs As Limerick Tech Firm Invests In L'Derry
A technology company based in the Republic of Ireland is to expand its operations across the border with the creation of 15 new jobs in L'Derry. Deveire will mark 10 years in business by investing in Northern Ireland for the first time with a new Software Development Centre.
10 January 2002
British Airways to cut 15 European routes
Around 15 of British Airways short-haul European routes are to be to slashed in an attempt to avert major losses. The move is part of a restructuring plan which will see the company focusing on the lucrative transatlantic business travel market.
British Airways to cut 15 European routes
Around 15 of British Airways short-haul European routes are to be to slashed in an attempt to avert major losses. The move is part of a restructuring plan which will see the company focusing on the lucrative transatlantic business travel market.
12 August 2015
HLM Celebrates 15 Years In NI
HLM celebrated 15 years in Northern Ireland and 50 years since its foundation with a special event on board the SS Nomadic in Belfast's historic Titanic Quarter.
HLM Celebrates 15 Years In NI
HLM celebrated 15 years in Northern Ireland and 50 years since its foundation with a special event on board the SS Nomadic in Belfast's historic Titanic Quarter.
28 May 2002
North Belfast enterprise centre celebrates 15 years
Townsend Enterprise Park, one of the largest Local Enterprise Agencies in Northern Ireland is celebrating its 15th anniversary in business this week.
North Belfast enterprise centre celebrates 15 years
Townsend Enterprise Park, one of the largest Local Enterprise Agencies in Northern Ireland is celebrating its 15th anniversary in business this week.
-
Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
