Thu, 20 Jan 2022

Co. Down Director disqualified

Northern Ireland Executive
07 Jan 2022, 22 GMT+10

Sean McManus (35) of Adavoyle Road, Killeavy, Co Down was disqualified for seven years on 16 December 2021, in the High Court, Belfast in respect of his conduct as a director of McManus Agri Contracts Ltd- In liquidation ("the Company").

Insolvency Service

The Company operated as wholesale of agricultural machinery, equipment and supplies and went into liquidation on 19 February 2018 with an estimated deficiency as regards creditors of Pound 827,875.  There was a total of Pound 1 owing as Share Capital, resulting in an estimated deficiency as regards members of Pound 827,876. 

The matters of unfit conduct alleged by the Department in relation to Sean McManus in respect of his conduct as a director of the Company and accepted by the Court were:

  • Causing and permitting the Company to operate a policy of discrimination against the Crown by retaining monies which were properly payable to the Crown and / or submit inaccurate VAT returns resulting in a loss of monies properly due to the crown from 2015/16. Causing and permitting the Company to retain a total of Pound 386,521.88 due to the Crown as at the date of liquidation.  This represented 46% of the Company's overall revised estimated deficiency in respect of PAYE / NIC and VAT properly payable to the Crown.  Furthermore, operating a policy of discrimination in that payments were made to trade creditors at a time when the HMRC debt continued to increase;

  • Causing and permitting McManus Agri Contracts Ltd to misuse its bank accounts by tendering cheques and payments without due regard to the ability of the Company to honour these upon presentation and, as a consequence, they obtained goods and services without the funds to pay for them,  thereby causing a detriment to trade creditors;

  • Causing and permitting the Company to fail to comply with the Companies Act 2006 in that the Annual Returns / Confirmation Statements for the period ended 27 May 2012, 27 May 2013, 27 May 2014, 27 May 2015, 25 May 2016, and 25 May 2017 were not filed within the prescribed periods

  • Causing and permitting the Company to fail to comply with the legislation in that annual accounts for the years ending 31 May 2013, 31 May 2014, 31 May 2015, and 31 May 2016 were not filed within the prescribed period

The Department has accepted 25 Disqualification Undertakings and the Court has made 6 Disqualification Orders in the financial year commencing 1 April 2021.

More Belfast News

Access More

Sign up for Belfast News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!