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AML is dead long live ARIL

8th August 1991, Page 16
8th August 1991
Page 16
Page 16, 8th August 1991 — AML is dead long live ARIL
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Which of the following most accurately describes the problem?

• The owner of coach firm AML Leisure International has called in the receiver — but has set up a new firm at the same rented premises in Hounslow, Middlesex. Chris Lambert has named his new firm AML Coaches and retained five coaches on lease purchase.

His receiver, London-based Latham Crossley Davies, says this practice is not unusual when there is no equity in the firm. It plans to hold a creditor's meeting within three months.