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United Kingdom

United Kingdom

CREDITORS KEPT AT BAY, BRITISH FIRM

Carter Technology has successfully fought off a receivership order from its previous owner, Beacon Energy Ltd, owned by Tony Marmont. A dispute over the sale contract was the cause of the trouble, but this was settled out of court. Carter is owned by an Indian company headed by Mr VNAS Chandran of Coimbatore.

Carter Technology, British manufacturer of the Carter wind turbine, has successfully fought off a receivership order. Carter's previous owner, Beacon Energy Ltd, called in the receiver at the beginning of December 1995 over an alleged failure by the new owners to keep to the terms of the purchase agreement. The company had been bought in December 1994 from Beacon Energy -- a company owned by Midlands businessman Tony Marmont -- by an Indian company headed by Mr VNAS Chandran of Coimbatore in Tamil Nadu.

In mid January the matter was settled between the parties and the court then ordered the receivership to be overturned. The court agreed that the receiver should not have been called in. It was found to be a false appointment, says a relieved Steve Baugh from Carter Technology. According to Baugh the sticking point between the two parties had been a technicality in the contract for the purchase of the company. It was basically a technical contract dispute which was resolved outside the receivership. There has been a settlement, he explains.

The good news is that Carter Technology is back in business and proceeding as normal, adds Baugh. "We are manufacturing blades for the existing machine for export mainly to India." Carter Technology is active in India through its joint venture partnership with Sangeeth Textiles.

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