Bibby gets a green light for six trucks
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• Widnes-based JF Bibby (Trucksales) has been granted a licence to operate six vehicles.
The company wants to continue part of the transport business of the associated Transport & Excavations, now in liquidation.
Bibby applied to North Western LA Martin Albu for a new national licence for 16 vehicles and two trailers.
Director and transport manager Jeffrey Bibby said that Transport & Excavations had been wound up on the advice of its bankers. An arrangement between the two companies became unlawful when the banking laws were changed. Transport & Excavations, which held a licence for 17 vehicles, was not making a profit so the company was advised to liquidate it.
Questioned by the LA, Bibby said that Transport & Excavations never operated more than 12 vehicles, and about five were being operated when it went into
liquidation. JF Bibby (Trucksales) was trading for about five years The company wanted a licence so it could continue the transport job in a small way, expanding later.
After Bibby had admitted the company was operating although no interim authority had been granted, Albu said he was the transport manager and he was supposed to know the law. Evidence was given that Transport & Excavations had technically been insolvent, but there were no creditors apart from the bank and J F Bibby (Trucksales) had taken over that debt.
After seeing accounts, Albu was satisfied that the financial requirements were met as far as capital reserves were concerned. He was a bit concerned about the cashflow projections, and he felt that 16 vehicles was overdoing it.