Chapter 11 bankruptcy filing

Trailer sales and leasing company files for bankruptcy protection

K & L Trailer Sales and Leasing Inc. (K & L Sales) of Knoxville, Tennessee, recently filed for Chapter 11 bankruptcy protection.

The family-owned business, opened in 1994, employs 23 people. The company sells new and used trailers, including dry van, reefer, flatbed and tankers, among others.

K & L Sales also sells parts and operates a trailer repair shop.

In its filing with the U.S. District Court for the Eastern District of Tennessee, it lists assets between $1 million and $10 million and...

https://www.freightwaves.com/news/trailer-sales-and-leasing-company-files-for-bankruptcy-protection

LATAM Airlines files for bankruptcy protection

Cargo being unloaded from a large white cargo jet.

Following regional rival Avianca Holdings’s footsteps, LATAM Airlines, the largest carrier in Latin America, is reorganizing and restructuring debt under court-supervised bankruptcy protection in the United States because of the unprecedented downturn in business caused by the coronavirus.

Today’s filing for Chapter 11 bankruptcy covers LATAM Airlines Group (NYSE: LTM), headquartered in Santiago, Chile, as well as its affiliates in Colombia, Peru, Ecuador and the U.S., but not those in...

https://www.freightwaves.com/news/latam-airlines-files-for-bankruptcy-protection

Breaking: Car rental giant Hertz files for Chapter 11 bankruptcy protection

Car rental giant Hertz (NYSE: HTZ) filed for Chapter 11 bankruptcy protection late Friday, hours ahead of a creditor forbearance deadline on a nearly $11 billion agreement with some of its asset-based lenders that lease vehicles to Hertz’s U.S. rental car operations.

After failing to reach an agreement with some of its creditors, Hertz had little choice but to enter a free-fall, Chapter 11 proceeding without sufficient time to plan, according to Joseph Acosta, a partner at Dorsey & Whitney.

“These...

https://s29755.pcdn.co/news/car-rental-giant-hertz-files-for-chapter-11-bankruptcy-protection

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