Wallace -v- Cassidy & ors [2016] IEHC 689 (02 December 2016)

Wallace -v- Cassidy & ors [2016] IEHC 689 (02 December 2016)

Each respondent, while director, engaged in or was complicit in systematic fraud, breach of duty, and lack of commercial probity, justifying disqualification under s.160(2)(a),(b),(d) Companies Act 1990 (now s.842 Companies Act 2014).

Citation
[2016] IEHC 689
Parties
Applicant: Kieran Wallace; Respondent: Harry Cassidy; Respondent: John Whyte; Respondent: John Mulholland
Jurisdiction
Ireland
Judgment Date
02 December 2016
Procedural Posture
Application for Disqualification Order Under Companies Act / Final Judgment
Outcome
disqualification orders granted against all respondents
Legal Topics
Director Disqualification, Fraud, Breach of Duty, Corporate Governance, Mi FID Compliance
Company Law Financial Regulation Director Disqualification Fraud Breach of Duty Corporate Governance Mi FID Compliance

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Parties

Kieran Wallace

Applicant

Harry Cassidy

Respondent

John Whyte

Respondent

John Mulholland

Respondent

Procedural Posture

Application for Disqualification Order Under Companies Act / Final Judgment

Legal Issues

  1. 1 Whether respondents should be disqualified as company directors under s.160(2) Companies Act 1990 for fraud, breach of duty, and unfitness
  2. 2 Whether restriction order under s.150 Companies Act 1990 is appropriate as alternative

Ratio Decidendi

Each respondent, while director, engaged in or was complicit in systematic fraud, breach of duty, and lack of commercial probity, justifying disqualification under s.160(2)(a),(b),(d) Companies Act 1990 (now s.842 Companies Act 2014).

Court Disposition

disqualification orders granted against all respondents

Orders

  • Harry Cassidy disqualified for 14 years under s.842(a),(b),(d) Companies Act 2014
  • John Whyte disqualified for 10 years under s.842(a),(b),(d) Companies Act 2014