MacKinnon Transport Files NOI

C

cdufrat

Member
10
Part of an article from Trucknews yesterday:

2011-12-14

GUELPH, Ont. -- Trucknews.com has learned MacKinnon Transport has filed a Notice of Intention (NOI) under the Bankruptcy and Insolvency Act in order to restructure the company.

Meanwhile, Laidlaw Van LP has purchased the van division of MacKinnon Transport, according to a notice sent to drivers from Alex MacKinnon, senior vice-president, finance and administration.

In a message to driving staff yesterday, MacKinnon said: "Let me stress that this is NOT a bankruptcy of Mackinnon Transport, we have a NOI to make a proposal which offers creditor protection strategy, that will provide the time and stability necessary to complete financial restructuring, which will make MacKinnon Transport a stronger industry competitor with a renewed financial outlook." - 12/14/2011
 
Rob

Rob

Site Supporter
30
Another BR Smith deal everybody gets screwed and they reap the rewards what a crock!! Sorry to all that have been hauling freight for them as none of you will get paid a red cent but hey you better pay them if they hauled for you!!!:mad::mad::mad:
 
C

cdufrat

Member
10
Unfortunately, we have 2 invoices from Oct. which I'm sure we'll be writing off as bad debt. Very frustrating. They 're-structure' and no one will get paid.:mad:
 
F

Flat Freight

Member
2
That is the first of two articles, which appears to be aimed at mackinnon drivers. the second one greg rundle.from contrans , sounds a little more reserved on this POTENTIAL aquisition

I was unaware the van division was a separate legal entity, which could be sold off so easily.
 
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