"Self-confessed Opportunists

13th November 1959, Page 104

13th November 1959

Page 104

Page 104, 13th November 1959 — "Self-confessed Opportunists

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"TWO men who bought the share capital I of a Nottingham haulage company after they had failed in a series of business ventures were described as "selfconfessed opportunists" by Mr. L Reeve Allerton, Nottingham 'Registrar, last week, when they appeared for public examination.

They were Frank Cecil Ling, The Park, Nottingham, and Ronald Aaron Meir, Parkstone, near Bournemouth, who admitted joint liabilities of £39,388 9s. 2d. and assets of £3,482 2s. id., making a total deficiency of £35,906 7s. Id. Ling told Mr. W. W. Jordan, Offici Receiver, that when they , bought II share capital of S. and S. Transport, Lti the company's creditors were a/reai pressing for a liquidation Order, but dal hoped to sell some of the compan3 assets to stave this off. He realized nc that this was illegal. When they gain' control of the business they found th many of the vehicle licences were alre:u owned by other people and sever vehicles had been repossessed by finan companies. _

Further inquiries are to be made.