Friday, 13 July 2018

Tax man targets taxi firm Metrocab


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The Metrocab manufacturer is once again facing winding up proceedings over an alleged tax debt to Her Majesty’s Revenue and Customs .
In February, Frazer Nash, warded off a challenge by Italian company, SALT S.R.L. – which was itself in liquidation – over money it owed.
However, at an initial hearing of the case in January Frazer-Nash was given a month’s breathing space to sort the matter out and when the case returned to court in February the winding up moves were dismissed.
Now it is the HMRC which is seeking to wind the company up over alleging an undisclosed tax debt.
Frazer Nash last year won a test case legal battle with the London Taxi Company (LTC) over a new style of black cab were back at London’s High Court today facing winding up proceedings for the second time this year.
But at a brief hearing before the insolvency court in London, Judge Jones, Frazer-Nash again won more breathing space. The case was adjourned until July 25.
If the move to wind the company up had succeeded its affairs would effectively have been handed over to the Official Receiver.
His job would then have been to do his best to ensure that all debts were paid off by selling any available assets and then bringing business to a close.
In the test case last year, which began in the High Court and later moved to the Appeal Court, LEVC (formerly LTC) suffered a double defeat in a complex trade mark dispute with Frazer-Nash.
LEVC claimed the new Metrocab was too similar to its TX range, infringed its trademark and amounted to passing off.
LTC had claimed among other things that it owned the goodwill in four styles of Fairway taxis and that the new Metrocab infringed the design.
But Lord Justice Floyd said in dismissing the case in the Appeal Court that the new Metrocab was “strikingly different” to the LTC taxis and found there had been no passing off.
The new Metrocab is expected to be built in Coventry and to be on sale by the end of the year.
July 13, 2018 at 07:09AM https://ift.tt/2ufVjKI LTDA THESE POSTS ARE NOT OUR ENDORSEMENT