Debt-Ridden Freight Co. Seeks Ch. 11 Protection

Law360, New York (November 16, 2011, 6:17 PM EST) -- Jacksonville, Fla.-based trucking and marine freight services company Trailer Bridge Inc. filed for bankruptcy Wednesday after being unable to pay $82.5 million in debt that had come due.

The company said in a statement that the Chapter 11 filing in the Middle District of Florida was the best way to recover its financial health, and that it hoped to have the restructuring completed by the first quarter of 2012.

“The company believes that this action is the quickest and most efficient way to restructure its balance...
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