Chapter 11

Missouri trucking company with 255 drivers files for bankruptcy

A family-owned Missouri trucking company with 265 trucks and 255 drivers recently filed for Chapter 11 bankruptcy protection.

Founded in 1983 by Randall Walker, RBX Inc. of Strafford, Missouri, hauls general freight, beverages and paper products, according to the Federal Motor Carrier Safety Administration’s SAFER website. 

The petition, filed in the U.S. Bankruptcy Court for the Western District of Missouri, on Friday, lists James A. Keltner as CEO of RBX. 

No reason was given as to why the...

https://www.freightwaves.com/news/missouri-trucking-company-with-255-drivers-files-for-bankruptcy

Kal Freight co-founder says no layoffs expected in restructuring

The co-founder of Kal Freight said he does not expect any layoffs as the trucking company restructures under Chapter 11.

Kal Freight on Thursday filed for Chapter 11 bankruptcy in the Southern District of Texas. Filing of Chapter 11 will allow the company to reorganize while continuing operations. 

Co-founder MP Singh told FreightWaves no jobs should be impacted by the restructuring and that operations will continue as normal for the Texas-based company. According to a filing with the Federal...

https://www.freightwaves.com/news/kal-freight-co-founder-says-no-layoffs-expected-in-restructuring

Hornblower Group completes its restructuring

Hornblower Group, which filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas in February, reported on July 3 that it has successfully completed its financial restructuring process and emerged with new majority ownership, a focused portfolio and financial flexibility to support its growth over the long-term. That news came less than a month after court approval of the company’s company’s plan of reorganization

Hornblower Group delivers a range of water...

https://www.marinelog.com/news/hornblower-group-completes-its-restructuring/

Shuttered California LTL carrier files for bankruptcy

Tony's Express trailers

Less-than-truckload carrier Tony’s Express of Fontana, California, has filed for bankruptcy protection, nearly three months after it abruptly ceased operations by notifying around 200 truck drivers, warehouse workers and office personnel via text message that they no longer had jobs.

John H. Ohle, president and sole shareholder of Tony’s Express, bought the company in May 2023 from brothers Anthony “Tony” Raluy and George Raluy. Their father started the business in 1954.

Less than a year after...

https://www.freightwaves.com/news/shuttered-california-ltl-carrier-files-for-bankruptcy

Court confirms Hornblower restructuring plan

Hornblower Group, which filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas in February, reports that the court has now confirmed the company’s plan of reorganization. With court confirmation of the Hornblower restructuring plan, the company, which is a major player in the U.S. ferry market, says that it “has used this process to position the business for future success with a more focused portfolio, introduce new majority ownership and strengthen its...

https://www.marinelog.com/news/court-confirms-hornblower-restructuring-plan/

Hornblower restructures, pulls plug on American Queen

As part of a restructuring that will see it get an infusion of cash and a new majority owner, Hornblower Group has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. The restructuring agreement will see funds managed by global alternative investment firm Strategic Value Partners, LLC (SVP) and its affiliates take majority ownership of Hornblower and provide a significant equity investment...

https://www.marinelog.com/inland-coastal/hornblower-restructures-pulls-plug-on-american-queen/

Creditor challenges bankruptcy plan of ILWU dockworkers union

One of the world’s largest and highest-profile dockworker unions, the International Longshore and Warehouse Union (ILWU), filed for Chapter 11 bankruptcy protection on Sept. 30, seeking to shield itself from a crippling damage award owed to Philippines-based International Container Terminal Services Inc. (ICTSI).

But the bankruptcy filing is not the end of the saga. The legal battle continues.

Under the proposed reorganization plan, the ILWU would give $6.1 million to terminal operator ICTSI,...

https://www.freightwaves.com/news/creditor-challenges-bankruptcy-plan-of-west-coast-dockworkers-union

85-year-old Indiana trucking company files for Chapter 11

An 85-year-old Indiana-based trucking and logistics company and its affiliates recently filed for Chapter 11 bankruptcy protection less than nine months after it was acquired by private-equity firm Transport Acquisitions. 

Founded in 1938, Otwell, Indiana-based Elmer Buchta Trucking, which offers bulk, dry van and pneumatic trucking services, has 100 drivers and more than 230 power units, according to the Federal Motor Carrier Safety Administration’s SAFER website. 

No reason was given as to why...

https://www.freightwaves.com/news/85-year-old-indiana-trucking-company-files-for-chapter-11

Surge Transportation sought buyer prior to filing for bankruptcy

After experiencing two years of record growth during the COVID-19 pandemic, Jacksonville, Florida-based Surge Transportation, a digital freight brokerage, sought to find a buyer and slashed its rates and workforce nearly a year before it filed for Chapter 11 bankruptcy protection on Monday.

“In the first half of 2022, demand for excess motor carrier capacity dramatically contracted. In an effort to maintain volume, [Surge] cut its rates,” according to court filings. “While lower rates resulted...

https://www.freightwaves.com/news/surge-transportation-sought-buyer-prior-to-filing-for-bankruptcy

Surge Transportation blames bankruptcy filing on sales drop after e-commerce boom

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After experiencing record sales growth during the COVID-19 pandemic, digital freight brokerage Surge...

https://www.freightwaves.com/news/bankrupt-surge-transportation-unprepared-for-sales-drop-after-e-commerce-boom

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