The bankruptcy action of KAL Freight, with its charges of corruption in the background, is nearing a “do or die point,” according to a filing in the case, with motions and countermotions flying back and forth last week in a Texas bankruptcy court.
The key takeaways from those motions are that KAL Freight still has plenty of trucks on the road, and that’s an issue; and the goal of a Chapter 11 proceeding, which is to allow a company to reorganize its ownership and debt load and continue...