Beauty business turns ugly as director is banned
THE boss of a cosmetics retail business firm which went under owing nearly £1 million has been handed a six-year ban in a case brought before the courts by the Department for the Economy.
The disqualification undertaking was accepted by 45-year-old Andrew Porter of Knightsbridge Park in Belfast in respect of his conduct as a director of Zen Beauty Services Limited.
From its base at Heron Road in Belfast, Zen was involved in the retail sale of cosmetic and toilet articles in specialised stores.
But its mask slipped and the company went into administration in December 2014 owing £981,278.
Porter admitted failing to submit a sworn statement of affairs and also causing Zen to enter into transactions giving rise to a preference, which was detrimental to the company and its creditors.
He also allowed the company to settle his personal capital gains tax liability, breaching his fiduciary duty to the company, and failed to act in a way that would be most likely to promote the success of the company for the benefit of its members.
Another areas of unfit conduct against Porter was that he failed to comply with statutory obligations by filing Zen's annual returns late.
A six-year disqualification had previously been accepted by another director of the company.