Payouts begin flowing to truck drivers from Celadon Group’s Hyndman Transport months after forcing the bankrupt trucking company to court in Canada.
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.
Lawyers for Celadon and former Hyndman Transport employees argue over whether the U.S. company behaved badly in Canada.
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.
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.
