Business

Newry haulier in directorship ban after firm crashes owing £1.2m

A DIRECTOR of a Newry-based road haulage business has been banned from the boardroom for five years after his company went off the road with debts of £1.2 million.

Gareth Warde (33) of Windsor Manor in Newry was a director of Trevor Warde Groupage Services Limited, which operated from Tandragee Road in the city.

He agrees to the disqualification in a case brought by the Department for the Economy. Proceedings are continuing against another director.

The company went into liquidation in May 2014 with an estimated total deficiency of £1,189,949.

Gareth Warde admitted permitting a third party to act in the capacity of a de-facto director of the company from November 2003 to August 2007 while that third party was subject to a disqualification order.

He also allowed the third party to continue to carry out fraudulent activities which included raising total sales invoices of £934,407 in the name of another company, and the proceeds from these invoices were diverted away from the company for the benefit of the third party personally.

Meanwhile in another case brought by the Department, Paul Corry (52) of Bettystown in County Meath accepted a six-year ban in respect of his unfit conduct running the Direct Cleaning Services (NI) contract cleaning firm from Adelaide Street in Belfast, which went into liquidation in June 2014 owing£116,092.

Corry admitted breaching his fiduciary duty to the company by making transfers totalling £146,070 to a connected company, to the detriment of creditors and in particular HM Revenue & Customs.

He also failed to make annual returns for the periods ended September 2006 to September 2013 within the prescribed periods.

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