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Has anyone had any collection issues with Longbow Freight Systems at 323 Evans Ave. Etobicoke? I have an outstanding invoice from November?
Longbow Freight Systems
- Thread starter allfreight
- Start date
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Waiting on payment update for December invoice - always slow - average 70 days to pay with us. I will put them on HOLD until this is cleared. Thanks for the post.
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Just got off the phone with A/P at Longbow - she was told to tell all vendors they are at least 8 weeks behind in payments. Our December invoice will not be paid until close to April. The company is in financial trouble.....
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No change to previous posts - Longbow called our dispatch today to move a small load - they are blocked in our system. Call was put thru to me - explained that I have another invoice already overdue and can't take anymore loads - he said late payments are all over the place - every company is paying slow and that yes - they were having difficulty. Explained we simply couldn't wait forever to be paid - already looking at April before our December invoice will be covered. Guy was supposed to call back if they could provide a cheque before moving this new load - never heard back from him. It's too bad...
Longbow
Is anyone filing a complaint on loadlink or contacting their customers. I have had the same response from Dawn in A/P. My emails have been CC to the owners and her response hasn't changed. My invoices are Dec and she claims that she has older one that haven't been paid.
Is anyone filing a complaint on loadlink or contacting their customers. I have had the same response from Dawn in A/P. My emails have been CC to the owners and her response hasn't changed. My invoices are Dec and she claims that she has older one that haven't been paid.
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Here's the Legal Story
On March 3, 2009, Longbow Freight Systems Inc filed a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act. The Trustee is Perry Kreiger & Associates Inc., Richmond Hill ON.
What does that mean if you are owed money by Longbow?
(a) all liabilities of the DEBTOR COMPANY are frozen. This means that you cannot take any further collection activity against the DEBTOR COMPANY. (that includes phone calls)
(b) any money owed to DEBTOR by his customers would normally be paid to the DEBTOR; however, there is no official receiver yet , so Longbow can deposit money received from their customers without any liability to pay the unpaid carrier. This is different from a "bankrupcty" where an official receiver is appointed.
(c) Within the next 30 days, which is usually extended upon request to the Court, Longbow has to come up with a repayment plan that is voted on by the unsecured creditors using a formula based on number of creditors and dollar amount.
(d) If the proposal fails, Longbow is automatically in bankruptcy. If the proposal succeeds, they can carry on subject to payment terms of the proposal.
(e) If you do work for Longbow now, you are not guaranteed payment. It is recommended that you are paid by certified cheque prior to delivering.
(f) There are serious consequences if you decide to accept new business from Longbow, and then hold the freight ransom for what is owed you.
(g) There is no obligation on the part of the Trustee or Debtor to advise the customers of Longbow. However, it would not be inappropriate for you to contact the customers to determine if they have in fact paid Longbow.
(h) PM me if you would like to have a meeting of unpaid creditors to discuss options prior to the official meeting to be held by the Trustee.
On March 3, 2009, Longbow Freight Systems Inc filed a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act. The Trustee is Perry Kreiger & Associates Inc., Richmond Hill ON.
What does that mean if you are owed money by Longbow?
(a) all liabilities of the DEBTOR COMPANY are frozen. This means that you cannot take any further collection activity against the DEBTOR COMPANY. (that includes phone calls)
(b) any money owed to DEBTOR by his customers would normally be paid to the DEBTOR; however, there is no official receiver yet , so Longbow can deposit money received from their customers without any liability to pay the unpaid carrier. This is different from a "bankrupcty" where an official receiver is appointed.
(c) Within the next 30 days, which is usually extended upon request to the Court, Longbow has to come up with a repayment plan that is voted on by the unsecured creditors using a formula based on number of creditors and dollar amount.
(d) If the proposal fails, Longbow is automatically in bankruptcy. If the proposal succeeds, they can carry on subject to payment terms of the proposal.
(e) If you do work for Longbow now, you are not guaranteed payment. It is recommended that you are paid by certified cheque prior to delivering.
(f) There are serious consequences if you decide to accept new business from Longbow, and then hold the freight ransom for what is owed you.
(g) There is no obligation on the part of the Trustee or Debtor to advise the customers of Longbow. However, it would not be inappropriate for you to contact the customers to determine if they have in fact paid Longbow.
(h) PM me if you would like to have a meeting of unpaid creditors to discuss options prior to the official meeting to be held by the Trustee.
Thanks for the detail on this. Can you also place the gerneral information in the "Government Regulations on Bankruptcy's" for futher reference?
We are owed $ from Longbow and was told today by the VP of Longbow about the above process. He also said that values of $1000 or less are not subject to the above process. Can you concur with that statement or was that just a ploy to get out of the conversation?
We are owed $ from Longbow and was told today by the VP of Longbow about the above process. He also said that values of $1000 or less are not subject to the above process. Can you concur with that statement or was that just a ploy to get out of the conversation?