FW: Shuttered California LTL carrier files for bankruptcy
FREIGHTWAVES reports: Less-than-truckload carrier Tony’s Express of Fontana, California, has filed for bankruptcy protection, nearly three ...
TFII: SOLID AS USUALMAERSK: WEAKENINGF: FALLING OFF A CLIFFAAPL: 'BOTTLENECK IN MAINLAND CHINA'AAPL: CHINA TRENDSDHL: GROWTH CAPEXR: ANOTHER SOLID DELIVERYMFT: HERE COMES THE FALLDSV: LOOK AT SCHENKER PERFORMANCEUPS: A WAVE OF DOWNGRADES DSV: BARGAIN BINKNX: EARNINGS OUTODFL: RISING AND FALLING AND THEN RISING
TFII: SOLID AS USUALMAERSK: WEAKENINGF: FALLING OFF A CLIFFAAPL: 'BOTTLENECK IN MAINLAND CHINA'AAPL: CHINA TRENDSDHL: GROWTH CAPEXR: ANOTHER SOLID DELIVERYMFT: HERE COMES THE FALLDSV: LOOK AT SCHENKER PERFORMANCEUPS: A WAVE OF DOWNGRADES DSV: BARGAIN BINKNX: EARNINGS OUTODFL: RISING AND FALLING AND THEN RISING
The freight forwarding arm of National Air Cargo Holdings yesterday filed for relief under Chapter 11 bankruptcy protection. While speculation has been circulating in the market for a while, this announcement reveals that it is just one part of a multi-faceted group and the airline is not connected to the proceedings.
The announcement follows a judgment against NAC Inc, in a case filed by Global BTG, which provides leasing and financing for aircraft, which alleged that NAC Inc had breached a letter of intent by failing to finance aircraft leases through Global. NAC is appealing the judgment but the Chapter 11 proceedings will allow it to continue business as normal in the meantime.
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