Mackinnon Transport Inc Guelph

That should be Friday's joke (a very bad one) from what I read on the bankruptcy it's probably 10 cents on the dollar on 4.5 mil and they are still running down the road no wonder everyone wants to come to Canada there are absolutely no consequences for your actions.
 
What I want to know is how the parent company got a GSA and became secured against a subsidiary? I didn't know that was legal. The largest chunk of secured debt was to themselves.

If they survive the proposal, they will still be morally bankrupt, and I sincerely hope that all carriers and suppliers remember this, even if the shippers don't, and choke, starve and steal them blind.
 
Last edited by a moderator:
Sad...

So I guess we probably won't be seeing our monies owed to us, but will continue to see their trucks going down the road...at least we can feel good knowing we bought fuel, or tarps, or tires for everyone that is owed money. Something definitely stinks about this whole deal, it's almost embarassing how this works...
 
Last edited by a moderator:
Try this on for size...response from MTO. Pay particular attention to the last line.

"It is correct that the load brokers are required under the Highway Traffic Act to maintain a trust account.

With respect to the Highway Traffic Act, the ministry does not make public statements about the laying of charges in particular cases. The laying of charges is a matter in the discretion of ministry officers. As a general rule, ministry officers focus their efforts on issues related to highway safety."
 
Mackinnon

As soon as we delivered the last load for Mackinnon, we recieved the insolvency paperwork. We handed the matter over to a US collection agent who went after their shipper and consignee right away. We got every cent of the 50k owed to us. It cost us 20% to the collection agency but the 10 cents on the dollar alternative really sucked. We got letters from their lawyer demanding this and that but the collections people kept the heat on 'till we got paid. There's a moral to this story, tow the line and you get 10 cents, rough 'em up and you get paid.
 
Last edited by a moderator:
All smaller flatbed carriers should be using this (re-structuring ) , as a marketing tool to take to existing Mackinnon customers....Gather all the info,print off or provide the KPMG link showing potential customers how many people were screwed, and present this to them. Most are shocked & appaled, as Mackinnon was selective in what was told to customers. Many people responsible for purchasing transportation services simply don't follow this industry close enough, and are unaware of these activities. Educate these people on these issues...It will work ! btw... I have not done anything for mackinnon for 7 years, so even never got a dime from me. He (evan) has had his turn to kick you guys when you were down....Time for payback !!
 
Sooo, everybody else get their final dividend letter from KPMG? 14 months later they pi** me off again. And I was just getting over it.
I think it is ultra cool that KPMG gets 240,000 for their work, and 150 others get to split 475,000. Seems reasonable to me.
Someday Evan...someday.
Way back I called Truck News to ask why they were spinning their "restructuring" in such a positive light, when far more were getting screwed than saved. He got a little offended. Go figure.
 
Dave in London said:
Sooo, everybody else get their final dividend letter from KPMG? 14 months later they pi** me off again. And I was just getting over it.
I think it is ultra cool that KPMG gets 240,000 for their work, and 150 others get to split 475,000. Seems reasonable to me.
Someday Evan...someday.
Way back I called Truck News to ask why they were spinning their "restructuring" in such a positive light, when far more were getting screwed than saved. He got a little offended. Go figure.
Click to expand...


The truck news is a shill of an industry publication that kisses David Bradley and his cronies in the we pay for our awards club asses.. Mac Kinnon is one of Canada's 50 best managed companies after all..
 
  • Like
Reactions: faey06 and V Taylor
You must log in or register to reply here.
Top Bottom