SIMON AND Christian Stokes, whose Bang cafe restaurant in Dublin was wound up two years ago with debts of €2.4 million, have been disqualified from acting as directors of any company for the next four years.
The period of disqualification ends in March 2016, almost coinciding with the ending of a five-year restriction period previously imposed on the brothers restraining their involvement with companies unless those companies meet minimal capital requirements.
The brothers had not opposed the restriction orders last year but sought to make submissions on any disqualification order and that matter was adjourned until yesterday.
After being told the brothers would accept whatever period the court might impose, Ms Justice Mary Finlay Geoghegan said she was satisfied the appropriate period was six years.
Taking into account mitigating factors, including their acceptance they were irresponsible in the management of Mayfair Ltd, which operated the Bang cafe, she reduced that period to just over four years. Other mitigating factors included the effect of the brothers personally of the winding up of their businesses.
They now work in another restaurant, Il Segreto on Merrion Row, of which their father is a director, and each earned €2,500 a month, Simon Stokes said in an affidavit on their behalf.
He said the intense publicity surrounding the demise of their business had already acted as a significant punishment. Both had young families and liabilities from their business activities arising from personal guarantees.
Mr Stokes accepted they had been irresponsible, but denied they were dishonest or involved in calculated wrongdoing.