Retired businessman Jonathan Irving and his son Jamie have been disqualified from acting as company directors.

In a judgment handed down on Wednesday afternoon, Deemster Aidan Christie QC said he had ’little option’ but to disqualify Mr Irving senior for a period of eight years and son Jamie for seven years.

The disqualification relates to the Irvings’ Street Heritage Limited company, which was wound up by court order in February 2010 over non-payment of tax debts totalling £182,929.

Proceedings were brought by the island’s Financial Services Authority which said the Irvings had shown themselves unfit to serve as company directors.

The FSA identified seven areas of major concern - including allowing SHL to trade while insolvent.

In his judgment, the Deemster said: ’I have no doubt at all that SHL was insolvent for at least two years prior to the date of its winding-up.

’The defendants knew that (or, at the very least, ought to have known it) but continued to trade nonetheless.’

The Irvings denied all allegations and insisted they had acted entirely properly throughout. They say they will appeal the judgment.

But Deemster Christie said Mr Irving senior regarded SHL and the related companies as ’part of his personal empire around which he was permitted to move assets as it suited him without regard to the interests of the individual companies, much less the creditors of any of them’.

He said: ’Whether or not he understood any principles of corporate governance or management, he woefully failed to implement any of them. SHL was run on a chaotic, hand-to-mouth, basis with no proper accounting system and no proper records.’

The Deemster said of Mr Irving senior: ’In some cases his conduct could be attributed to incompetence, albeit serious incompetence, but in other areas his conduct demonstrated a lack of probity.’

* Irivngs say they will fight 'this miscarriage of justice' - see next week's Examiner