pinks Interfreight's appeal
Page 39
If you've noticed an error in this article please click here to report it so we can fix it.
.efer to the report (CM July 1) in connection th Spinks I nterfreig ht's appeal.
The QC representing Spinks Interfreight akes certain criticisms and accusations jainst Allisons Freightlines Ltd, myself and hers which are completely unfounded in et and I feel it only right that these should be Iswered and "the record put straight".
First, let me say that Amalgamated Trans)rt Services, of whom Mr Geoffrey Spinks as then a director, made the initial approach r the acquisition of Allisons Freightlines. No and of distress was stretched out to them by Ilisons Freightlines but Amalgamated Transart Services were well aware at the particular tie of the financial difficulties Allisons vightlines were encountering.
Contrary to what is reported, no Receiver as ever appointed to Allisons Freightlines in cotland as this is not in fact competent here id although a petition for the appointment of Provisional Liquidator was made to the Court f Session, the application was refused, Neither I. nor any other member of the Ilison family nor any of the directors of llisons Freightlines ever claimed at the ?levant time that Allisons Freightlines was reeking even on its trading. All information )quired by Amalgamated Transport Services nd their advisers was provided and it was iereafter left to Amalgamated Transport ervices to consider all factors and, if they saw t, come forward with any proposition which ley might care to make.
Valuations of the heritable properties elonging to Allisons Freightlines were rocured on the instructions of Amalgamated ransport Services from valuers employed by lem. At no time was any valuation of the roperties given by the directors of Allisons reightlines other than those appearing in the ompany's balance sheets. There was no overtatement of the capital position. The directors f Amalgamated Transport Services were cquainted with the method of depreciation in alation to vehicles used by Allisons Freightnes and they accepted that it was a proper ne although not the same as they employed. he method adopted by Allisons Freightlines ; supported by the fact that when vehicles ielonging to Allisons Freightlines were(subseuently1 sold invariably larger sums were ealized than the book figures. The book debts vere all generally good.
Admittedly, Amalgamated Transport Serices paid off a large sum of indebtedness icurred by Allisons Freightlines Ltd but the mount of this was known to the directors of unalgamated at the time of their dealings and hey were satisfied that it could be met. Finally, and on a personal note, I would vish to record the fact that I resigned from Imalgamated Transport Services some time 'nor to its liquidation. While there is no reason against my holding a new licence in Scotland, I do not in fact do so, although I am a director of a company holding such a licence. Again, that licence was applied for and acquired approximately six months before the liquidation.
JAMES ALLISON, Managing Director. Tayfreight Ltd, Dundee.