There was a huge sigh of relief as the court overseeing the bankruptcy proceedings of Celadon Group said it would allow the trucking firm’s fleet to pay $5.4m in owed compensation to its drivers ahead of finalising what the company owes its creditors.
Celadon Group’s 9 December bankruptcy was the largest ever for the trucking sector, leaving more than 3,000 drivers jobless, and followed an estimated 800 carriers that have gone out of business so far …
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Source: The Loadstar