Haulier couldn't say where money went
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EVVICE-BANKRUPT Gloucestershire haulage contractor David Warklove, was ordered last week to account for E15,000 he drew 'rom his company in the two years before his latest financial Mr Marklove, of Berkeley, old Gloucester Bankruptcy L'ourt he had no idea what he lad done with the money.
The court had heard how Mr VIarklove, first bankrupted in 1959, started up the Clexstar -laulage Company Ltd in 1976 while still bankrupt.
But he said the company 'inally folded because he was 'double-crossed" by Stroud )istrict Council.
He intended to appeal igainst an enforcement notice ;erved by the Council to stop lim trading from his home but iropped the appeal when the l'ouncil suggested alternative )remises.
Mr Marklove said he subseluently found that these pre nises were not for sale, and so vas fined a total of £2000 by 3ursley Magistrates for coninuing to trade from home.
He admitted that his debts otalled about £21,500 and that his assets — shown as £5252 — consisted of money owed to him by the two limited companies with which he had been involved.
He agreed that as one of the companies had now ceased and the other was working "on a knife edge" the prospects of getting any of the money were slim.
Mr Marklove said his major cause of business failure was that he got his personal affairs and those of the limited company inextricably linked together. He was using his own money to pay business debts and guaranteeing personally credit obtained by the company. But he refused to accept Mr Levers' suggestion that the failure was due to his personal incompetence.
He was finally taken to the Bankruptcy Court when BP Oil obtained judgment against him for £5288 because he had failed to pay their bills, he said.
Mr Marklove's public examination was adjourned until May 15 to enable him to produce an account showing what he had done with the £15,000 he drew, and to file an amended statement.
He had told the court that after closing down the company he set up another firm, Zendower Transport Ltd. But he had ceased to be a director of that company when the Receiving Order was made against him.