Businessman unfit to be a company director, High Court judge rules

A businessman, described as the “driving force” behind a property investment firm that went bust in 2009, is unfit to be a company director, the High Court has ruled.

Ms Justice Elizabeth Dunne yesterday said accountant Alan Hynes, who the court was satisfied was a de facto director of Tuskar Asset Management (TAM) plc group, should be disqualified from being a company director for a period of three years.

The judge said she was satisfied Mr Hynes had failed to account, deal properly, or provide an adequate explanation, about the whereabouts of €3.1m of shareholder’s funds. This was a clear breach of duty which rendered Mr Hynes unfit to be a director of a company.