Coagh couple disqualified over Castledawson firm’s collapse

The disqualification undertakings were accepted for seven years from Michael Joseph McCracken (45) and for two years from Eileen Louise McCracken (43, both of Battery Road, Coagh, Cookstown, in respect of their conduct as directors of Micran Limited (the Company).

The Company entered administration in March 2011 with estimated total assets of £1,123,000, liabilities to secured creditors of £1,384,752, liabilities to preferential creditors of £53,000, liabilities to unsecured creditors of £870,833, and an estimated deficiency as regards creditors of £1,185,585.

After taking into account the losses incurred by members (the shareholders) of the Company the total estimated deficiency was £1,195,585. The Company subsequently went into liquidation on 19 April 2012.