COMPANY’S CREDITORS
Deficiencies Of £25,449 The first meeting of creditors of Truck Spares, Ltd., a company which was officially ■wound up on November 24 of this year, was adjourned _ sine die by the Official Assiffiiee (Mr O. T. Grattan) yesterday morning. The estimated total deficiencies of the company as regards contributories are £25.449 which includes an estimated deficiency as regards debenture holders of £9281 with £B6BB owing to unsecured creditors and a paid-up capital of 9000 shares of £1 each paid up to £7500. J. M. Tocker, a public accountant, who was acting as receiver for the debenture holders, in a statement of affairs of the comoany, said that he believed that the causes ot the failure of the company were trading losses.
high overhead expenses and over-valuation of stocks. Mr J. E. Millar, on behalf of a creditor, said that the creditor would challenge certain payments made by Mr Tocker to debenture holders.
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Press, Volume C, Issue 29702, 21 December 1961, Page 9
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154COMPANY’S CREDITORS Press, Volume C, Issue 29702, 21 December 1961, Page 9
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