CH 11 - has anyone had a CH 11 for a a trucking co which has to pay
Posted: Mon Oct 03, 2016 10:04 am
My clients are having a hard time with any filing date I propose because
(1) they cant use cash collateral until we get court permission, and (2)
all their truckers on the road pay for gas every day with their corporate
credit cards which will likely be cut off shortly after we file.
Has anyone dealt with this issue in a Chapter 11? How can these trucks
continue to operate and pay for fuel without credit cards? Also, the Debtor
cant just give these guys cash each day, even with permission for use of
cash collateral. Its about $400/per truck each day. It's not like the
owners see the drivers each day. They may be in another state.
Any ideas how to keep this up and running?
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
*Central District of California & District of Idaho* - Consumer Bankruptcy
Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067
T (310) 553-2600; F (310) 553-2601
*By State Bar of California Board of Legal Specialization
My clients are having a hard time with any filing date I propose
because (1) they cant use cash collateral until we get court permission, and
(2) all their truckers on the road pay for gas every day with their corporate
credit cards which will likely be cut off shortly after we file.
Has anyone dealt with this issue in a Chapter 11? How can
these trucks continue to operate and pay for fuel without credit cards? Also,
the Debtor cant just give these guys cash each day, even with permission for
use of cash collateral. Its about $400/per truck each day. It's not like the owners see the drivers each day. They may be in another state.
Any ideas how to keep this up and running?Holly RoarkCertified Bankruptcy Specialist*and Sports Lawyer
holly@roarklawoffices.com**primary email address**
www.roarklawoffices.com
Central District of California & District of Idaho - Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067T (310) 553-2600; F (310) 553-2601
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