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Second time unlucky as failed firm's bosses try for 0-licence
Page 10
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The former bosses of a collapsed Northern Irish firm have twice been refused an 0-licence for a new company. Anton McCabe reports.
TWO FORMER DIRECTORS of Eglinton Fast Freight. Michael and Seamus Doherty. have applied twice for a fresh 0-licence under the trading name GS Logistics — and their bid was refused both times.
Their previous company went into receivership in October 2005 (CM 3 November 2005) following an application from Ulster Bank.
The address the pair gave was in Brockagh Road, Eglinton. Co Derry. A third director of Eglinton Fast Freight, Bernard Eugene Doherty, gives the same address in documentation filed with Companies Registry in Belfast.
Eglinton Fast Freight was based at a depot in Derry port which had been purpose-built by Londonderry Port and Harbour Commissioners (EPHC).
The company owed LPHC about £400,000 when it ceased operations; this is equivalent to approximately 10% of the port's annual turnover.
A spokesman for receivers PricewaterhouseCoopers reports that sold some of Eglinton Fast Freight's assets have been sold to two of the directors, hut he declines to give any details.
A spokesman for Northern Ireland's Department of the Envirotunent,which regulates the 0-licence system in the province, confirms that the two licence applications failed because the company did not provide proper financial documentation.
He adds: The company does not hold an 0-licence, nor does it have an application pending.
"Our DVTA [Driver Vehicle Testing Agency] enforcement colleagues have been apprised of the situation."
Michael Doherty declined to comment on the applications.