Haualge fim 'given away'
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• A Norfolk haulage cc pany, Jacksons Transport (D reham) Ltd, was virtually given away after massive VA and PAYE debts led to its cc lapse, a Norwich public inqui heard last week.
Easthelm Ltd, a company formed by Jacksons Transpor 26-year-old former managing director, Stephen Jackson, al plied to Eastern Deputy Licensing Authority Charles Arnold-Baker to take over Jackson Transport's international licence for 18 vehicles and 19 trailers.
Jackson said that Jacksons Transport had been formed i 1980, the only other director being his mother. He was un ware of the VAT deficiency until 1983, when it was show he owed about £50,000.
From then, the VAT rep) ments and debts to other private and Crown creditors meant he could not get his fir ances straight. County court judgments had been served against Jacksons Transport ai others were threatened.
He said that Easthelm had been bought off the shelf in 1985 and that it operates srm vehicles carrying agricultural produce.
In reply to Arnold-Baker, Jackson denied that he had d( liberately run up debts that Iv knew he could not pay. He also denied that Easthelm wa set up to defraud the creditor of Jacksons Transport.
He said that eventually all the shares in Jacksons Transport were transferred to Part Royal Associates to no advan tage.
Arnold-Baker said that he had before him a schedule of convictions recorded against Jacksons relating to licensing offences between June and October of Last year. He also understood that there were 11 warrants outstanding against Jacksons.
Arnold-Baker adjourned thc proceedings until a date to be fixed in June.
There were provisions for the drivers to benefit from the lower fuel prices available to the company and they wer also guaranteed minimum earnings.