The Department of Enterprise, Trade and Investment has accepted a disqualification undertaking for seven years from Timothy Laurence Wilkinson, 50, of Ormiston Crescent, Belfast, in respect of his conduct as a director of Professional Surface Protection Systems Limited.
The company carried on the business of providing surface protection and grafitti removal products and services from Nottingham, Belfast and London and went into liquidation on 22 November 2007 with estimated assets of £500, liabilities of £56,275 to non preferential creditors and an estimated deficiency as regards creditors of £55,775.
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After taking into account the losses incurred by members (shareholders, including the directors) of the company the total estimated deficiency was £55,776.
The Department accepted the disqualification undertaking from Mr Wilkinson on 17 June this year based on his unfit conduct which solely for the purposes of the disqualification procedure was not disputed.
He is said to have failed to fully co-operate with the Official Receiver in contravention of Article 199(2) of the Insolvency (Northern Ireland) Order 1989 in that he failed to attend the Official Receiver's office to complete his Preliminary Examination interview and he failed to provide a statement and deliver up information, documentation and the accounting records of Professional Surface Protection Systems Limited, as requested.
He also failed to properly account to the Official Receiver or his agent for all company assets and didn't pay £7,944.41 properly due to the Crown, being VAT of £5,024.34 for the year 2004/05 and £2,920.07 for the year 2005/06.
He was also said to have caused the Company to fail to comply with Article 291 of the Companies (NI) Order 1986 which states every company shall have a company secretary and not complied with Articles 371(1) and 371(2) of the Companies (NI) Order 1986 in that Annual Returns were not filed for the years ended 29 November 2004 and 29 November 2005.
(BMcC/KMcA)
