Schroeder Freight - Bankruptcy

I think it comes down to more of a love of what you're doing. I started in an organization where the first generation built something but the kids didn't appreciate it, and because of this the business was dragged down and killed once the first generation was not able to carry on. But in other cases (like the 2 largest employers I worked for) tremendous success stories were created.

You have to have a passion for what you're doing it. If it's just for the money it's not going to work.
 
I agree, and passion is more likely to be had when you have seen the history firsthand. Or if you start at the bottom and your passion develops as you do. Its tough to have passion about something you simply inherit.
 
lowmiler and others - Well said. There are some in the millennial generation that have learned what hard work is at an early age (we actually have a few employed here that I'm impressed with their passion, dedication and loyalty), but yes their generation is known for an entitlement sort of attitude. I joke here and in the office that I'm still a rookie in the industry at only 11 years, it's true - many of the carriers I meet have been at it double that time or longer! Education is a great tool that teaches students about what has happened in the past along with emerging thoughts/trends, etc... Still, depending on the industry, an alternative for hands on experience is hard to find. In order to be upper management, or run a company I feel you should have exposure to front line work, middle management work and must have sat in multiple departments in order to truly know the inner workings of how the job gets done.

Just my 2 cents, Happy Friday and please drive safely. Getting there late is better than having to get a new bumper!
Mike
 
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Hi People.

So much to read and such little time, I spoke to Rob and he said everyone will be getting paid and its more about when and not if!!!

I will have more news on whats going on Dec 30th, if anyone wants to call me direct then please do so!!

Office number 905-228-6436- this will go direct to my cell!!
 
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I just received this in my email. Is it time to contact the shipper and receiver?

"On December 16, 2016 Schroeder Freight Inc. (SFI) filed a “Notice of Intention to Make a Proposal” (“NOI”) under the Bankruptcy & Insolvency Act (“BIA”). The BIA is federal legislation in Canada.

NOI is not the same as bankruptcy or receivership. As part of the NOI process, SFI has been given a legislative opportunity to restructure its business, with the objective of returning to normal operations.

As a result of the NOI filing, all amounts owing to creditors as of December 16, 2016 are stayed by law without exception.

To assist in the NOI process, SFI has retained the services of MNP Ltd. as Proposal Trustee. The Trustee will distribute the Proposal to creditors within the next few days answering any questions you may have and providing future contact information.

Thank you for your consideration and patience in this matter.

Regards,
Melanie Isaak

Schroeder Freight Inc.
Toll-Free: (888) 268-4220 x537
Direct: (204) 992-9537"
 
These guys screwed me bad on a load a couple years ago, very unprofessional and self serving, all I gotta say is KARMA....
 
Now they are screwing everyone, I'm not sure you can go after the shipper/receiver now, I would try or get advice on whether you can proceed. I love a country that let's people screw other companies and continue to operate, bank on less than 20% on the dollar.
 
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You should proceed immediately against the shipper and receivers! You can also sue the directing mind if they received the trust funds! Bankruptcy law is entirely different and should not affect a carriers ability to collect for the shipments directly . They are sending out self serving legal documents.
 
An NOI is basically like a Chapter 11 in the US. My guess is that once Schroeder restructures its debt it'll package itself for sale and end up being a part of a US company or a Canadian conglomerate who wants the presence in Western Canada. It's bankruptcy protection ... so I'm not sure if you can actually go after other parties because the process indemnifies them, as far as I know.
 
bcharette said:
Hi People.

So much to read and such little time, I spoke to Rob and he said everyone will be getting paid and its more about when and not if!!!

I will have more news on whats going on Dec 30th, if anyone wants to call me direct then please do so!!

Office number 905-228-6436- this will go direct to my cell!!
Click to expand...
Called you 5 times where are you hiding????????
 
Ht collections, if this company was incorporated and/or based in Ontario, then yes, a creditor could sue the directors for failing to hold the funds for the carriers in a segregated trust fund. However, it is my understanding that this firm is located in a province in Western Canada and I do not think there is any legislation similar to what we have here in Ontario regarding freight brokers and the requirement for a trust fund. In Canada, an NOI is valid for 30 days, allowing time for the party to restructure. It can be extended multiple times, up to a maximum of 6 months. It only applies to creditors of the affected company. Perhaps a carrier could go directly to the shipper/receiver to collect unpaid freight charges. A good question for an experienced para legal, such as Scam Chaser.
 
There may be many laws that can be relied on. TCRC can help you out. Your best bet is not to waist any time.
 
Spoke to Brian, when I asked for my money I was told to go back to Pakistan, little did he know my family comes from India and I was born and raised here, All we want is our money that we worked hard for!!!
Then he told us he was going to teach us a lesson by visiting our office, Trust me Brian this is the last thing you want to do, I know you are on this site reading these comments, we are on 225 Parkhurst sq in Brampton.
Merry Christmas you piece of shit!!!!!
 
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