North Down pair disqualified as company directors

HMRC
HMRC
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Two Bangor restaurateurs have been disqualified as company directors for undeclaring sales and failing to account for cash.

Paul Stephen O’Kane, 49, of Clifton Gate, Bangor and Amanda O’Kane, 42, of Dunkeld Chase, Bangor, had been directors of D&L Platinum (NI) Limited.

The company operated licenced restaurants from both Donaghadee Road, Groomsport and Main Street, Groomsport. It went into liquidation in March 2016 owing creditors more than £408,000.

The Department for the Economy accepted disqualification undertakings of 10 years from Paul Stephen O’Kane, and six years from Amanda O’Kane on May 30, 2019.

The disqualifications relate to the directors failing to account for cash amounts of at least £651,890 in the books and records of the company, and for diverting cash from the company to their personal bank account.

Their actions were found to have contributed to the insolvency of the company.

During the period of trading the directors also understated sales revenue which resulted in a loss to Her Majesty’s Revenue and Customs in respect of taxes due of £322,613.

Their disqualification means that both will be banned from acting as company directors, or forming or managing a limited company.