Pride Group - TPine
- Thread starter SCAM CHASER
- Start date
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Everything I have heard indicates that they are selling the transportation side of the business as an ongoing concern, but did not solicit any offers for factoring etc business groups as ongoing business. I'm guessing they will be winding down /vanishing.
That was the recommendation from the Monitor but it has to be approved by the courts based on the information provided. We will find out on Tuesday what the courts have to say about the Monitors recommendations.
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New Volvo 860 for 190k ? Or Kenworth T680 at 190 k ? Pls share your sale rep info as im still seeing 240-250k CAD
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According to the new court documents, they are meeting with people this week before finalizing the sale.
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I haven't seen any new court documents out yet. Do you know where I can find these?
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I haven't seen anything. If you have it, can you share it on the site?
Shakey
Site Supporter
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Shakey
Site Supporter
30
As per the court order June 28, 2024 at 5PM (Friday before the long weekend), there is a stay in proceedings which means that the CCAA process will continue as it was until Sept 30.
There was also a court order stating that the monitor has to provide the vehicles to Daimler and Regions for liquidation. I did not have time to review those further and identify how many units that entails.
There was also a court order stating that the monitor has to provide the vehicles to Daimler and Regions for liquidation. I did not have time to review those further and identify how many units that entails.
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looks like 17 Canadian and 25 US units, which seems awfully low: (pages 46 and 47 on 8th monitors report)
Your are correct! guess they haven't released the list of VIN's for the freight shakers yet.
From What I heard, The PGL deal is almost done and going to be finalized in the next few days. Considering Daimler and VFS taking their equipment back and selling it. There is going to be a shortfall on the prices 100% and those lawsuits are most likely going to be coming over to pride as well. I don't think there is much left, if PGL gets sold because T-Pine leasing was operating on other credit lines which all got defaulted by them. Also, its going to be hard to build trust with lenders again considering the things they did.
The guys running the North East out of Fort Erie took a pay cut last year. 2 cents a mile before this even started.