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Bangor restaurateurs banned for under-declaring sales

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Bangor restaurateurs banned for under-declaring sales

Paul and Amanda O’Kane have been disqualified as directors for under-declaring sales and failing to account for cash.

The pair were directors of D&L Platinum (NI), which operated the Stables restaurant on Donaghadee Road and the Groomsport Inn on Main Street in Bangor, County Down. The company went into liquidation on 21 March 2016, owing creditors more than £408,000.

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

The disqualifications were due 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 contributed to the insolvency of the company.

During the period of trading, the directors also understated sales revenue which resulted in a loss to HMRC in respect of taxes due of £322,613.47.

The department also deemed that the directors had failed to keep accurate accounting records in breach of the Companies Act 2006.

Their disqualification means that both will be banned from acting as company directors and from being involved either directly or indirectly in the promotion, formation or management of a limited company.

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