JHT Plan Gives Unsecured Creditors Nothing

Law360, New York (July 1, 2008, 12:00 AM EDT) -- One week after its prearranged Chapter 11 filing, JHT Holdings Inc. has revealed a reorganization plan under which the truck transporter's lenders will receive over two-thirds of the reorganized company's stock while the general unsecured creditors will get nothing.

JHT and its bankrupt affiliates filed a disclosure statement and joint plan for reorganization Monday in the U.S. Bankruptcy Court for the District of Delaware.

The Kenosha, Wis.-based company and several affiliates have cited a drop in demand for the large diesel trucks they transport as the...
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