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High Court grants orders of disqualification of company directors: (a) on the grounds that the company in question had been insolvent for years but continued to trade, where the directors had continued to trade in the company after it was dissolved, and where plant and machinery had been sold prior to the appointment of a liquidator; and (b) on the grounds that one of the directors, an accountant, was not a "passive director" where he had all of the company records at his disposal, and could not avoid disqualification by reason of the effect on his professional life.
Company law - disqualification of directors - restriction - company wound up in 2014 - 842(d) of the Companies Act 2014 - whether conduct made directors unfit for management of a company - discretion of court - effect of disqualification on director - effect on professional person - company continued to trade while insolvent - accumulated unpaid taxes of over €1 million - evidence of insolvency from 2003 - lack of commercial probity in continuing to trade - continuing to trade after dissolution - disposal of plant and machinery - whether director involved in day-to-day running of company - director had small accountancy practice - whether an undertaking could be accepted in lieu of disqualification.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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