Director ban after haulage firm ran up £2.6m in debts

Mark McKinney.
Mark McKinney.
0
Have your say

The owner of a former Portadown haulage firm has been banned from being a company director for eight years after amassing debts of £2.6 million.

Mark McKinney (50), an ex-director of Portadown Football Club, admitted allowing MMK International Transport to trade, despite its precarious financial position.

His wife Beverley (52) and daughter Lara (28) were also disqualified from being company directors for seven years each.

The company, based at Seagoe Industrial Estate, entered liquidation on September 15, 2011, with an estimated total debt of £2,659,563.

The insolvency branch of the Department of Enterprise, Trade and Investment, which carried out the investigation, found both Mark and Beverley McKinney retained £1,718,574 from the Crown, while Lara McKinney retained £730,624 from the Crown.

All three failed to file accounts and annual returns for various periods between 2002 and 2009.

Mr McKinney also received payments and took out loans from the company, while he was shadow director between June 2007 and the date of liquidation.

In 2006, the company had £3.6 million frozen by the Assets Recovery Agency amid allegations of money laundering and drugs, cigarette and fuel smuggling - a claim Mr McKinney always denied.

Assets seized included a Bentley and a helicopter.