Surface Transportation Inc.
On February 9, 2009, Surface Transportation Inc. filed an assignment in bankruptcy and A. Farber & Partners Inc. was appointed Trustee of the Estate of the Bankrupt by the Official Receiver.
The First Meeting of Creditors was held on February 27, 2009 at 10:00 a.m. at the offices of the Trustee.
Overall, the Statement of Affairs indicates the secured creditor claim is close to $7 million. The anticipated realization from the assets, in particular, the fleet of vehicles, which is the majority of the assets, are expected to result in a substantial shortfall to the secured creditor and therefore, there will likely be no proceeds available for either the preferred or unsecured creditor claims.
On February 12, 2009, A. Farber & Partners Inc. was appointed Receiver and Manager, by Court Order of all of the assets, undertaking and property of Surface Transportation Inc.
Bankruptcy Documents
Court Orders
