Atlantic Express Files Ch. 11, Citing Labor Union Costs

Law360, New York (November 5, 2013, 2:34 PM EST) -- School and charter bus operator Atlantic Express Transportation Corp. filed for Chapter 11 bankruptcy protection in New York bankruptcy court late Monday, saying unsustainable labor union costs and operating expenses have contributed to the company’s shaky financial situation.

Staten Island-based Atlantic Express said in a Monday statement that it is exploring additional debt or equity financing, but it has asked for court permission to sell some or all of its assets in December if it cannot reach a deal on a new collective bargaining agreement with...
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