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2 Canadian trucking companies forced into receivership

from Freight Waves

Two Canadian cross-border trucking companies have been forced into court-ordered receivership at the request of their lender under the country's Bankruptcy and Solvency Act, court documents show. Deloitte Restructuring assumed control over Kings Cargo Express and Canada Cargo Lines, based at the same address in Winnipeg, Manitoba, on Oct. 5 following a decision by a judge of the Court of Queen's Bench. They collectively owe CA$2.2 million (US$1.7 million) to Toronto-Dominion Bank, according to a report filed by Deloitte. more

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