Receiver Says Universal Express Is Broke

Law360, New York (October 1, 2007, 12:00 AM EDT) -- A court-appointed receiver for Universal Express Inc. has filed a preliminary evaluation of the company's finances, stating that none of the company's operations is profitable, and recommending that some assets be sold to cover debts.

In documents filed Friday with the U.S. District Court for the Southern District of New York, Jane W. Moscowitz, of Moscowitz & Moscowitz PA, said she had been notified of the court order appointing her receiver on Sept. 5, and had been working full time on those duties ever since....
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