loodwill useless ithout licences'
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HE sale of goodwill was useless without licences, Mr. Richard Yorke told the nsport Tribunal in London last week at appeal against the decision of the East Iland Licensing Authority to grant licenfor 43 vehicles to Larrow Transport St Midland) Ltd. in spite of opposition n other contractors.
kppearing for the respondents, Mr. Oorke 1 that Larrow Transport was purchased T it went into voluntary liquidation when mas owned by Boston Stevedores and ling under the name Tower Hill.
It has been suggested," said Mr. Yorke, at there is a trafficking in licences. This i misconception. The goodwill of a busis depends upon the purchaser being able ;ontinue in the business." He said that a nce was the one condition on which the isport business could be carried on. sere are two steps people have to take are they can become hauliers.. First, y must obtain a licence, and secondly y must get each vehicle licensed."
Ar. Yorke said that the purchaser paid on number of licensed vehicles he could ect to obtain. This was not a case where firm wanted to get hold of licences. The chaser, Grounds Transport Services, 3paiding, had bought the goodwill of the Mess, but had bought an entire fleet of / vehicles.
Ar. Yorke said that before Tower Hill it into voluntary liquidation, its debts ceded £100,000. With the sale of the ton branch of the business, the official iver would be able to pay the secure and Ferential creditors.
['he hearing was adjourned.