A company director from Holywood has agreed to disqualification.

The Department of Enterprise, Trade and Investment has accepted a disqualification undertaking for nine years from Barry Dobbin (65) of Torgrange in respect of his conduct as a director of Timber Frame Homes Limited.

The Department had previously accepted a disqualification undertaking for four years from another director on 12 October 2010 in respect of her conduct as a director of the same Company.

The Company carried on business as a manufacturer of timber frame housing kits for residential housing from Seagahan Road, Collone, Armagh. It went into liquidation on 11 November 2008 with estimated assets of £288,930, liabilities to preferential creditors of £9,989, liabilities of £262,570 to floating charge holders, liabilities of £421,897 to non-preferential creditors and an estimated deficiency as regards creditors of £405,526.

After taking into account the losses incurred by members (shareholders, including the directors) of the Company the total estimated deficiency was £410,526.

The Department accepted the disqualification undertaking from Barry Dobbin on 24 March 2011 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:

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· failing to submit intrastate supplementary declarations within the prescribed time period to H M Revenue and Customs. This was in breach of the conditions for his leave to act granted by the Courts on 19 January 2006 following his disqualification in respect of his conduct as a director of SBS Timber Frame (NI) Limited;

· causing and permitting the Company to be financed by non-payment of £40,338.48 of debts properly payable to the Crown;

· failing to properly account for an inter company transaction of £26,902 supposedly due to the Company from another company in which he was a director;

· failing to learn from previous insolvencies;

· causing and permitting the Company to fail to file on time any Annual Returns with Companies Registry except for the returns for the periods ended 31 July 1998 and 31 July 2006. The late filing of the returns for the period ending 31 July 2007 and 31 July 2008 was in breach of the conditions of his leave to act granted by the Courts on 19 January 2006;

· causing and permitting the Company to fail to file accounts on time with Companies Registry, for the years ending 31 July 1998, 31 July 1999, 31 December 2002 and 31 December 2006 and causing and permitting the Company to fail to file accounts for the year ending 31 December 2007. The late filing of accounts for the year ending 31 December 2006 and the failure to file accounts for the year ending 31 December 2007 was in breach of the conditions of his leave to act granted by the Courts on 19 January 2006;

· failing to pay dividends in accordance with the Articles of Association of the Company;

· extracting money from the company and describing it as a dividend, prior to any authority from the board of directors;

· breaching the conditions of his leave to act order granted by the Courts on 19 January 2006.

The Department has accepted 39 Disqualification Undertakings and the Court has made 3 orders disqualifying 3 directors in the financial year commencing 1 April 2010.

(GK)