One of Canada’s biggest trucking carriers has filed for bankruptcy protection after lender Mitsubishi HC Capital America filed a lawsuit seeking $100 million.
Pride Group filed Thursday for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) in Canada, which gives the company a stay of proceedings for at least 10 days.
“We have taken these steps to commence the CCAA proceedings and to seek recognition under the Chapter 15 cases so that we can maintain our current operations,...