MTS Logistic International
- Thread starter chauhan12
- Start date
Something has to be off with that. Seems a little fishy that you're able to operate for years under depressed rates and then when the rates and FSC finally become profitable for the carrier you go bankrupt? Just seems strange to me.......
Shakey
Site Supporter
30
maybe couldn't get new insurance, or price of new insurance make it more economical to go under. Free government money helped hide/fix a lot of issues for companies as well during Covid
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I had a call from a carrier yesterday, MTS double brokered a load unknowingly and didn't pay them. THey said they've been tracking down payment since May and went to their location yesterday and there is paperwork in the window saying they've declared bankruptcy.
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Mts only has 5 trucks on their mc
DBG trucking has 39 units on their mc
Either way dbg and mts are not the same company, so any load taken by mts and then sold to dbg is double brokered
DBG trucking has 39 units on their mc
Either way dbg and mts are not the same company, so any load taken by mts and then sold to dbg is double brokered
Shakey
Site Supporter
30
This one should be interesting to see unfold.
Anyone have the creditors list yet? That should be telling.....
Anyone have the creditors list yet? That should be telling.....
Yes, we are on the list, they owe us a few thousand. virtual meeting of creditors was today 10am.
Well we got a call from Sid to say that MTS will be back up soon, in the meantime to use DBG and it is business as usual. He sent us the DBG package. I do have a few lanes that they did really well.
So what is the general opinion here people? Would you consider DBG a completely separate entity? Would you use them if you previously received good service and pricing from MTS?
So what is the general opinion here people? Would you consider DBG a completely separate entity? Would you use them if you previously received good service and pricing from MTS?
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From what I have been able to gather, they have filed for bankruptcy. So for Sid to note, MTS will be back soon really sounds far-fetched to me.
I will agree that in the past MTS has provided good service at a reasonable rate, however, I am not going to overlook them shutting MTS down. I think further investigation is needed before I feel comfortable giving them my freight.
I will agree that in the past MTS has provided good service at a reasonable rate, however, I am not going to overlook them shutting MTS down. I think further investigation is needed before I feel comfortable giving them my freight.
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In the attachment (unless it is too large for InsideTransport to handle) is the Creditor's List. The official date of bankruptcy was July 12, 2022.
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It was only a matter of time. I'm glad I never took any of their freight. They are the absolute worst for double brokering.
Looks good on you Haider! I wouldn't give or take freight from anywhere that him or Moe were involved with!
DBG has been 'operating' for years with this plan in the works for at least 4 years. This is fraud. DBG will be DNU for me!
Looks good on you Haider! I wouldn't give or take freight from anywhere that him or Moe were involved with!
DBG has been 'operating' for years with this plan in the works for at least 4 years. This is fraud. DBG will be DNU for me!
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Shakey
Site Supporter
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I'm thinking you'll get better odds in Vegas.
As well who on that list of creditors will come looking for money from you for loads they hauled for MTS that was your accounts? Or worse they don't know it's your freight and you get that call from your client.....
Shakey
Site Supporter
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seems they spread the losses around like most of these pump n dumps. One glaring one, guessing their intermodal provider seems crazy to get that high.
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The one at 1.4 million can someone explain how they could owe that to another trucking company? Only thing I can figure is a private land deal.. or no way is anyone getting into us for 1.4.
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Shakey
Site Supporter
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This further proves they have always been a consolidation scheme!