The boss of a Belfast eaterie has been disqualified from directing a restaurant or café business for seven years following serious financial mismanagement.
The Northern Ireland Executive’s Department for the Economy has reported that Paul Savage, 32, of Groomsport in Bangor, failed to keep proper accounts and used company funds to discharge personal debts.
His company, Lime & Mocha Ltd, of Woodstock Road, went bust in January 2015 owing creditors £19,483.
Savage has accepted a directorship disqualification for seven years which the Department for Economy said was “based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed”.
For the purposes of the disqualification Savage accepted:
• Failing to maintain and/or preserve and/or deliver up proper books of account and/or accounting records.
• Failing in his duty as director of the company to prepare and file accurate annual accounts contrary to Section 396(2) and Section 393(1) of the Companies Act 2006.
• Causing and permitting the company to misuse a bank account by presenting cheques and direct debits to the bank without due regard to there being sufficient funds available to honour them.
• Causing and permitting the company to misapply funds of £3,100 by using company funds to discharge a personal debt in relation to the petition of his bankruptcy contrary to the interests of the company and its creditors.
• Failing to have due regard to the privilege of trading as a limited liability company.
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