A Derry director has been disqualified after running up debts of over £180,000 at his health studio.
Mehran Ghanbari (41) of Carn Manor, Summer Meadows, Crescent Link, was disqualified for 11 years in respect of his conduct as a director of Ben Madigan Limited (the Company) which ran a gymnasium..
The Company carried out the business of operating a health studio and masseurs from Limavady Road, Londonderry and entered liquidation on 5 May 2011 with estimated total assets available for preferential creditors of £Nil, liabilities to preferential creditors of £792, liabilities to non-preferential creditors of £182,491, and an estimated deficiency as regards creditors of £183,283. After taking into account the losses incurred by members (the shareholders) of the Company the estimated total deficiency was £183,284.
The matters of unfit conduct alleged by the Department of Enterprise, Trade and Investment (the Department) in relation to Mehran Ghanbari in respect of his conduct as a director of the Company and accepted by the Court were:
- Acting as a director of the Company without leave from the High Court whilst an un-discharged bankrupt;
- Failing to fully co-operate with the Official Receiver;
- Causing and permitting the Company to retain Crown monies in the sum of £47,169 consisting of £6,351 in respect of PAYE for the tax years 2008/09 to 2010/11; £11,985 in respect of NIC for the tax years 2009/10 and 2010/11 and £28,833 in respect of VAT for the tax years 2008/09 to 2011/12;
- Failure to file Annual Returns for the years ended 17 October 2008, 17 October 2009 and 17 October 2010.