The remaining assets of bankrupt trucking company Comcar Industries will be liquidated through two trusts, leaving little for unsecured creditors.
FreightWaves has been honored with 9 Azbee Awards of Excellence, including four Gold Awards.
Payouts begin flowing to truck drivers from Celadon Group’s Hyndman Transport months after forcing the bankrupt trucking company to court in Canada.
Sese Logistics said it worked several weeks and “incurred $152,433 in fees and expenses in obtaining the release” of the trailers.
Albrecht brings deep industry relationships and an expertise in transportation finance to the insurance company.
Celadon Group says White Willow Holdings made the most viable offer for its Mexico trucking and logistics subsidiaries after a proposed sale to P.A.M. for $7 million fell apart, according to court filing.
Bankrupt Celadon Group reveals employees in Mexico recently restarted operations of its transportation businesses after labor disputes. Court filings paint a murky picture of what’s happening at the Mexican subsidiaries — including Jaguar Transportation — and who is in charge.
Deal to purchase bankrupt Celadon Group’s Mexican subsidiaries, including Jaguar Transportation, for $7 million would expand PAM Transportation Services’ footprint south of the border.
Court orders pave the way for bankrupt Celadon to move forward with existing deals to sell two Canadian properties of Hyndman Transport for a combined C$16.25 million — with a portion set aside for former truck drivers and other personnel.
Celadon Group argues payouts will maximize value during the wind-down of its North American trucking businesses, but the proposal faces resistance from a U.S. federal trustee.
Lawyers for Celadon and former Hyndman Transport employees argue over whether the U.S. company behaved badly in Canada.
Ontario judge agrees to recognize Celadon’s Chapter 11 case and appoints trustee to supervise liquidation of Canadian assets.
Ex-chief financial officer of Hyndman Transport accuses Celadon in affidavit of depleting funds generated by profitable core business in Canada and hurting former drivers’ and others employees’ ability to claim more than C$2 million in unpaid compensation.
Celadon Group plans to ask Canadian court to recognize its U.S. Chapter 11 case as judge takes further steps to lock down Hyndman Transport assets.
Sale of Winnipeg terminal for C$4.25 million to commercial real estate firm appears set to be tied up in Canadian courts, where U.S. trucking giant’s failure to initiate timely bankruptcy proceedings north of the border may come back to haunt it and its creditors.
Celadon Group can’t sell off facilities without Canadian court’s OK, judge says as he prepares to place shuttered trucking company in receivership; ruling a victory for former employees, setback for U.S. creditors.
Lawyer representing 211 ex-Hyndman Transport personnel wants Canadian company placed in receivership to help secure more than C$2 million in unpaid compensation.
U.S. federal judge clears Celadon Group to proceed with sale of Ontario facility to Wyndham Street Investments for C$12 million in a deal that could make it harder for Canadian former employees to secure financial claims.
Ministry’s probe into terminations at Hyndman Transport following shutdown could lead to hefty payouts for former drivers and other staff.
Employees’ and contractors’ struggles with Celadon-owned Hyndman over outstanding pay and questions about the fate of leased trucks are compounded by the lack of legal proceedings in Canada, but that could change.
A Canadian lawmaker criticized Celadon Group’s abrupt closure of Hyndman Transport, calling it a “footnote in their thought process.” Byran May, a Liberal federal member of Parliament whose Ontario district […]
Employees of Mexican carrier Jaguar Transportation — a subsidiary of bankrupt Celadon Group — continue to protest unpaid wages by blocking the company’s Nuevo Laredo, Mexico, terminal in order to […]
While trucking companies stand to gain from a competitor’s collapse, they lament the loss of an industry stalwart.
Last Friday, December 6, FreightWaves reported that Celadon intended to file Chapter 11 bankruptcy and now the company has made it official. On the surface, it sounds like Chapter 11 […]
Truck parking reservations are now available through popular facility rating app Dock411, plus, more on the Celadon closure, drone safety a focus of working group and Virginia considers a fuel tax hike.
Jaguar Transportation, the Celadon-owned carrier based in Mexico, says it will remain operational and continue its cross-border shipping. “Jaguar will operate in the same way it has been working. The […]
Drivers “in shock” and blame the troubles of their U.S. parent company for causing Canada’s largest trucking failure of 2019.
The official announcement followed a chaotic weekend of credit, customer, and driver issues,
Celadon Group was Scrooge for its drivers with the Christmas holidays around the corner, but the trucking community is stepping up to help in the season of giving.
The billion-dollar truckload carrier’s failure is one of the largest in industry history.
The transformation continues at Celadon Trucking with former Swift Transportation chief taking the helm.
Celadon’s turnaround gets a shot in the arm with a new three-year financing agreement.
Celadon Group announces a credit facility amendment which extends the maturity date and increases lending capacity.
Celadon entered into the seventeenth amendment of its credit facility to provide the company with liquidity through June 28, 2019.
When Paul Svindland took over as CEO of Celadon Group (OTCPink: CGIP) in the summer of 2017, he was stepping into an operation that had been riddled with financial concerns […]
CEO Eric Meek and COO Danny Williams — who pleaded guilty to securities fraud last week — are no longer with the freight payments company.
Canadian trucking company Bison Transport acquired all of the intermodal assets of Indianapolis, Indiana-based Celadon Group Inc. on April 26.
CEO Paul Svindland calls settlement “milestone” in path to stability after hit from financial scandal.
P&S Transportation added Celadon Logistics to TA Services, its asset-light brokerage.
Svindland expects to be back at work in early January.
One part of the refinancing calls for an even bigger shareholder to emerge
Celadon’s turnaround team is bringing back generous vacation time and cash bonus incentives to recruit drivers for its tweener business.
Ford is following that of other automakers and investing in electrification and connectivity. The company also said it would redirect $7 billion from car production to increase SUV and truck production.
Once revered as one of the top trucking companies in the nation, Celadon Group has hit a rough patch in 2017. But there is a new leader with a new vision, and that’s to make Celadon a top carrier once again.
Paul Svindland’s appointment as the new CEO of Celadon Group has been enthusiastically by many, including investors who have pushed up the company’s stock in recent weeks. But, Svindland faces many challenges in the weeks ahead.
