The Director of Corporate Enforcement AND James Pierce AND Rosemary Pierce In the matter of James Pierce & Sons Limited and in the matter of Section 160 of the Companies Act 1990.
Details of Respondents
James Pierce & Sons Limited
Company Number: 227621
Registered Office: Ballingar, Tullamore, Co. Offaly.
James Pierce
Address: Ballingar, Tullamore, Co. Offaly.
Rosemary Pierce
Address: Ballingar, Tullamore, Co. Offaly.
Venue:
High Court, Dublin.
Judge:
Justice Finlay Geoghegan J.
The Application:
Under section 160(2)(h) of the Companies Act 1990 (as amended by section 42(b) of the Company Law Enforcement Act 2001), the Director may seek the disqualification of the directors of a company, which has been involuntarily struck off the Register of Companies pursuant to Section 12 of the Companies (Amendment) Act 1982.
Under section 160(3A), directors may successfully defend such an application for disqualification by demonstrating to the High Court that the company had no liabilities at the time of involuntary strike-off or that any such liabilities were discharged before the date of the making of the disqualification application. Where it deems that a sanction is appropriate, the Court has discretion to either disqualify the director for such period as it deems fit or restrict him or her for a five year period.
Outcome:
On 18th December 2006 James and Rosemary Pierce, who were directors of an insolvent company known as James Pierce & Sons Limited at the time it was struck off the Companies Register on 12th December 2003, were each made the subject of a disqualification order for a period of five years. The Court ordered that James Pierce AND Rosemary Pierce jointly and severally make a contribution to the costs of the Director measured in the sum of €2,000.
The effect of this Order is that James and Rosemary Pierce are disqualified from being appointed or acting as auditor, director or other officer, receiver Liquidator or examiner or being in any way whether directly or indirectly concerned or taking part in the promotion, formation or management of any company or society registered under the Industrial Provident Societies Acts 1893 to 1978 for a period of 5 years commencing 18th December 2006.