Transport boss Mark McKinney banned as a director for eight years
THE Department of Enterprise, Trade and Investment (the Department) has accepted disqualification undertakings from three Derry directors of a freight and haulage business.
Undertakings were received from Beverley McKinney (52) and Lara McKinney (28) for disqualification periods of seven years each.
And Mark McKinney (50), a former director Portadown Football Club, was disqualified for eight years.
All three, of Florence Street, in the Rosemount district of the city, were disqualified over their conduct as directors of MMK International Transport Limited (“the Company”).
The Company carried on the business of freight and haulage services from Seagoe Industrial Estate, Portadown.
It went liquidation on 15 September 2011 with estimated total assets available for creditors of £117,000, liabilities to unsecured creditors of £2,776,561 and an estimated deficiency as regards creditors of £2,659,561.
After taking into account the losses incurred by members (the shareholders) of the Company the estimated total deficiency was £2,659,563.
The Department accepted the disqualification undertaking from Mark McKinney on 19 March 2015 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:
- Causing and permitting the Company to retain a total of £1,718,574 from the Crown consisting £88,140 of Regulation 80 Determinations for the years 2001/02 to 2005/06; £75,599 of NIC for the years 2010/11 and 2011/12; £35,616 of PAYE for the year 2011/12; £367,874 of Corporation Tax for the year 2008/09; and £1,151,345 of VAT for the years 2008/09 to 2011/12;
- Failure to file accounts for the Company within the prescribed statutory period in respect of the years ended 31 December 2002, 31 December 2005 and 31 December 2006; and failure to file annual accounts for the years ended 31 December 2008 and 31 December 2009 at all with Companies House;
- Causing and permitting the Company to fail to file annual returns for the periods ended 5 December 2002 to 5 December 2009 (inclusive) within the prescribed periods with Companies House.
- Acting as a shadow director of the Company from the date on which he last resigned as a registered director on 14 June 2007 until the date of Liquidation. As a shadow director, he received £40,000 in remuneration for each of the years 2010 and 2011 as well as receiving beneficial loan interest regarding a balance owed to the Company. He received loans totalling £167,000 from the Company from 2001 to March 2011.
The Department accepted the disqualification undertaking from Beverley McKinney on 19 March 2015 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:
- Causing and permitting the Company to retain a total of £1,718,574 from the Crown consisting £88,140 of Regulation 80 Determinations for the years 2001/02 to 2005/06; £75,599 of NIC for the years 2010/11 and 2011/12; £35,616 of PAYE for the year 2011/12; £367,874 of Corporation Tax for the year 2008/09; and £1,151,345 of VAT for the years 2008/09 to 2011/12;
- Failure to file accounts for the Company within the prescribed statutory period in respect of the years ended 31 December 2002, 31 December 2005 and 31 December 2006; and failure to file annual accounts for the years ended 31 December 2008 and 31 December 2009 at all with Companies House;
- Causing and permitting the Company to fail to file annual returns for the periods ended 5 December 2002 to 5 December 2009 (inclusive) within the prescribed periods with Companies House.
The Department accepted the disqualification undertaking from Lara McKinney on 19 March 2015 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:
- Causing and permitting the Company to retain a total of £730,624 from the Crown consisting £34,471 of NIC for the year 2010/11; £367,874 of Corporation Tax for the year 2008/09; and £328,279 of VAT for the years 2008/09 to 2010/11;
- Failure to file accounts for the Company within the prescribed statutory period in respect of the year ended 31 December 2006; and failure to file annual accounts for the years ended 31 December 2008 and 31 December 2009 at all with Companies House;
- Causing and permitting the Company to fail to file annual returns for the periods ended 5 December 2006 to 5 December 2009 (inclusive) within the prescribed periods with Companies House.