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Eric Short Haulage rental fleet vehicles 'stolen'
Page 12
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By Chris Tindalf SOME OF the leased fleet of vans and cars of stricken Newcastle haulier Eric Short Haulage have been reported to the police as stolen, says administrator Duncan Morris of the Redfern Partnership.
In an attempt to diversify, Eric Short Haulage began an LCV and car hire operation in July 2008.1he fleet grew quickly to 80 vehicles.
In his latest report. Morris says: "The various leasing firms either terminated or had already terminated their.. .agreements and tried to repossess the vehicles. Unfortunately, these vehicles have been difficult to find, and. in some cases, the leasing comanies have reported the vehicles as stolen. I've spent some considerable time in dealing with the firms concerned, the police and various individuals."
Eric Short Haulage went into administration less than 18 months after it was sold in a highly leveraged deal (CM 2 July). It was then purchased by a relative of the company secretary at The Logistix Group for £25,000. The latter firm did not inherit any insolvent debts.
Morris says he has recovered more than £26,000 and almost £9,000 in a VAT refund, but with an estimated £10,800 owed to preferential creditors, and claims from unsecured creditors topping Lini. recoveries will be minimal. Azim Hussain, managing director of The Logistix Group, tells CM: "The agreements referred to have nothing to do with The Logistix Group or the transaction that it entered into with the adminisitrator."
Eric Short, who claims to be owed142,000 from when he sold Eric Short Haulage to Alex Rawlings and Shahid Hussain in December 2007, was unavailable for comment.