Business

Boardroom ban for director of steeplejack restoration firm

Dublin director Brendan Rainey has been given a boardroom ban at Belfast's High Court

A DIRECTOR of a building firm with offices in Belfast and Dublin has been banned from boardrooms in Northern Ireland.

Brendan Rainey (65) of Newtown, Balheary, Swords, Co Dublin, received a nine-year disqualification in respect of his conduct at J Rainey & Company.

The firm was a building contractor that specialised in work at height before it entered liquidation in January 2013.

Rainey was the third generation of the family to run the firm which was formed in 1913.

The company worked across Ireland and specialised in restoring steeples on churches and other historic buildings, roof restoration and was the largest installer of lightning protection in Ireland.

It had operations at Hopefield Avenue, Belfast and Balheary Road, Co Dublin.

The business owed creditors £1,094,572 but had no assets available to pay.

The Department of Enterprise, Trade and Investment (Deti), which brought the case to the High Court in Belfast, said Rainey had allowed the company to transfer assets to an associated business despite being insolvent and with other creditors to pay.

The court heard he had also permitted the firm to keep money due to the Revenue Commissioners in the Republic and also to the Construction Workers' Pension Scheme Trustees .

He failed to file annual accounts for the years covering 2010 and 2011 and was late with his return on five occasions between 2003 and 2009.

Rainey also allowed the company to file its annual return late between 2007 and 2010 and not at all for 2011.

Deti said it had accepted 18 disqualification undertakings since April last year and the court had made seven orders disqualifying directors.

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