CH 11 - has anyone had a CH 11 for a a trucking co which has to pay fuel every day?
Posted: Mon Oct 03, 2016 5:54 pm
Buy prepaid gas cards with the dip op account? I've had lots of clients whose dip bank gave them a debit card. Might want to set up a separate dip account only for gas.
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> On Oct 3, 2016, at 5:28 PM, Holly Roark hollyroark22@gmail.com [cdcbaa] wrote:
>
> It's a thought. I wonder if they let you put $2k on a card per week.
>
>
> Someone suggested a fuel DIP account with debit cards. That might work. Hopefully the bank would issue the cards same day as the account is opened.>
>
>> On Monday, October 3, 2016, Kirk Brennan kirkinhermosa@gmail.com [cdcbaa] wrote:
>>
>> How about prepaid cards...
>>
>>
>>> On Oct 3, 2016 10:04 AM, "Holly Roark hollyroark22@gmail.com [cdcbaa]" wrote:
>>>
>>> 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
>>>
>>
>
>
> --
> 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
*By State Bar of California Board of Legal
Specialization
The post was migrated from Yahoo.