Celadon Floats $3.25M Deal In Ch. 11 Receivables Fight

Law360 (July 22, 2020, 7:36 PM EDT) -- Trucking firm Celadon Group proposed a settlement late Tuesday in Delaware bankruptcy court under which it would make $3.25 million in payments to resolve an ongoing dispute in its Chapter 11 case involving more than $6 million of receivables held by the debtor. 

In court filings, Celadon said it would transfer $3.25 million in cash to TA Dispatch LLC, which purchased certain assets of the debtor in 2019, to resolve the ongoing fight over accounts receivable collected by Celadon on behalf of TA Dispatch after the sale, but before the bankruptcy filing.

The dispute arose following the April 2019 sale to...

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