Simon Transportation's first day motions approved

Simon Transportation Services Inc. said today that the U.S. Bankruptcy Court for the District of Utah, Central Division, approved its first day motions, which are intended to support its employees, customers and other stakeholders and to affirm the company's liability insurance coverage. Simon Transportation announced Monday that it and its subsidiary, Dick Simon Trucking Inc., filed voluntary petitions

Simon Transportation Services Inc. said today that the U.S. Bankruptcy Court for the District of Utah, Central Division, approved its first day motions, which are intended to support its employees, customers and other stakeholders and to affirm the company's liability insurance coverage.

Simon Transportation announced Monday that it and its subsidiary, Dick Simon Trucking Inc., filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code.

Simon Transportation's financial and operational stability going forward were enhanced through the granting of the following motions: affirmation of its insurance coverage at least through the next hearing on March 6, retention of legal and financial professionals to support its reorganization cases; payment of pre-petition employee wages, salaries, business expenses and benefits, including medical, for current employees, during the Company's voluntary restructuring under Chapter 11; and to authorize the existing use of cash management systems and accounts.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish