News

Heathcliff Haulage co-founder gets suspended sentence

October 14, 2019 Carol Millett

The co-founder of Wisbech-based Heathcliff Haulage has received a nine-month suspended jail sentence for breaching his directoral disqualification by continuing to act as a director and launching a second haulage company. Norwich Crown Court heard that Heath Noel-Storr was disqualified as a director on 5 January 2012 after the company, which was a Palletways member, ran up debts of £641,201, mainly owed to HMRC. As a result, the firm appointed administrators to reduce debt and keep the company operating. Despite […]

News

Mansel Davies pleads guilty to records fraud

October 14, 2019 Carol Millett

Welsh haulier Mansel Davies has pleaded guilty to 19 counts of forgery and counterfeiting maintenance documents for HGVs. Additional charges against MD Stephen Mansel Davies have been dropped. The case, heard at Swansea Crown Court last month, relates to charges that were brought against Stephen Mansel Davies and employee Jonathan Wyn Phillips at a hearing in June. Mansel Davies was accused of 19 offences of making false periodic maintenance inspection sheets for vehicles between 1 October 2017 and 14 February […]

News

Lenders to Eddie Stobart Logistics draft in advisers ‘to negotiate potential debt restructuring’

October 11, 2019 Tim Wallace

Lenders to Eddie Stobart Logistics (ESL) are understood to have recruited advisers to help negotiate a potential financial restructuring of its £155m net debt position. Sky News claims lenders have called in Alverez & Marsal, a global professional services firm notable for its work in turnaround management and performance improvement for high-profile international businesses such as Lehman Brothers and Arthur Andersen. Lenders are demanding answers after ESL failed to publish half-year results amid ongoing investigations into accounting irregularities. The news […]