Ch. 7 Trustee Takes Over Yellow Cab Bankruptcy

Law360, Chicago (November 16, 2016, 2:43 PM EST) -- An Illinois bankruptcy judge handed over the reins of Chicago's Yellow Cab company to a Chapter 7 trustee on Wednesday, but the trustee said he is still in the process of determining whether he will take on the liability of running the taxi service until it finds a buyer.

Newly appointed Chapter 7 trustee Michael Desmond of Figliulo & Silverman PC told U.S. District Judge Carol Doyle he needs to come to an agreement with Taxi Affiliation Services LLC, which runs most of Yellow Cab Affiliation Inc.'s critical services, before he will agree to run the company.

Desmond said he is...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!