LA Limousine Co. Parks In Ch. 11 After Arbitration Loss

Law360, Wilmington (September 26, 2012, 4:07 PM EDT) -- The Southern California division of limousine giant Carey International Inc. parked itself in bankruptcy on Tuesday after getting hit with a $4.5 million arbitration award for treating its drivers as independent contractors rather than full-fledged employees.

Los Angeles-based Carey Limousine L.A. Inc. listed assets of under $500,000 against debts of around $150 million in documents filed in Delaware bankruptcy court.

The company resorted to Chapter 11 to secure “breathing room” after 16 of its drivers won a $4.5 million arbitration award in a lawsuit claiming they...
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