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14/04/2005
Directors of Templepatrick firm agree disqualification terms
The Department of Enterprise, Trade and Investment has accepted an undertaking to a disqualification term of eight years from Brian James Reid of Templepatrick, Ballyclare, in respect of his conduct as a director of Brian Reid Contractors Limited a company which ran up debts of almost £973,000.
In the same case, Muriel Reid also of Templepatrick, Ballyclare, gave a disqualification undertaking of five years for her conduct as a director of the same company.
The company, Brian Reid Contractors Limited operated as a building contractors and plant hire from Clady House, 55 Printshop Road, Templepatrick, County Antrim, went into liquidation on 1 October 2001 with estimated assets of £24,689; liabilities of £987,636; and an estimated deficiency as regards creditors of £962,947. After taking into account the losses incurred by members (shareholders, including the directors) of the company the estimated total deficiency was £972,947.
The Department recently accepted the disqualification undertakings, based on "unfit conduct" which for the purposes of the legal disqualification procedure was not disputed by either of the former directors of the company.
(SP)
In the same case, Muriel Reid also of Templepatrick, Ballyclare, gave a disqualification undertaking of five years for her conduct as a director of the same company.
The company, Brian Reid Contractors Limited operated as a building contractors and plant hire from Clady House, 55 Printshop Road, Templepatrick, County Antrim, went into liquidation on 1 October 2001 with estimated assets of £24,689; liabilities of £987,636; and an estimated deficiency as regards creditors of £962,947. After taking into account the losses incurred by members (shareholders, including the directors) of the company the estimated total deficiency was £972,947.
The Department recently accepted the disqualification undertakings, based on "unfit conduct" which for the purposes of the legal disqualification procedure was not disputed by either of the former directors of the company.
(SP)
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