Repossessed Vehicles, Ill Health, Cause .f4,000 Deficiency
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TU., health due to an accident, losses
on vehicles repossessed, and heavy maintenance costs were the reasons given for his failure by a haulage contractor at Newport bankruptcy court last week. David Albert Fudge, of Malpas Road,
Newport, admitted liabilities of £4,162 Os. 4d., assets of £49 10s., a deficiency of £4,112 10s. 4d.
He said he purchased a lorry on hirepurchase for just over £100 and then started hauling small coal for another man, Mr. R. L. Lewis, 'against whom a receiving order was made in Gloucester county court, in return for a half share of the profits.
Fudge told the court the venture ended after six weeks and then he obtained sporadic employment hauling furniture and equipment on behalf of an outside caterer.
The lorry was repossessed and in July, 1959, he again joIned Lewis in equal partnership to salvage coal from a tip at Cinderford. "After two months the partnership ceased trading and I resumed selling firewood," he said.
"In July I obtained a contract for hauling coal from south Wales to southern England. I bought another lorry for over £1300. The work was profitable and my gross earnings approximately £50 a week," he said.
Vehicle Overturned He later acquired another lorry costing over £1,000 and in August purchased a car for £425. Both were hire-purchase transactions.
When repairs became necessary to the coal-carrying lorry he asked the company to take it back. He overturned the second vehicle, which was in a garage for a month. The examination was closed.