The Department of Enterprise, Trade and Investment has accepted a disqualification undertaking for nine years from a director of a Portrush commercial property development business.

Colin Richard Fletcher (50) of Ballymacrea Road, Portrush, Co. Antrim was disqualified in respect of his conduct as director of CRF Developments Ltd.

Proceedings are continuing against another director.

The company carried on the business of property development for residential and commercial sites in Northern Ireland from Causeway Street, Portrush, Co. Antrim and went into Administration on 26 March 2010 with estimated assets available for floating charge holders of £5,159,118, liabilities due to the floating charge holders of £17,048,050, liabilities of £480,504 to unsecured creditors, and an estimated deficiency as regards creditors of £12,369,436. After taking into account the losses incurred by members (the shareholders) of the Company the total estimated deficiency was £12,369,437.

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The Department accepted the disqualification undertaking from Colin Richard Fletcher on 21 June 2012 based on the unfit conduct which solely for the purposes of the disqualification procedure was not disputed.

(CD/GK)