Del. Judge Warns $6.2M Dispute Could Tank Celadon Ch. 11

Law360 (March 24, 2020, 7:00 PM EDT) -- Bankrupt transport company Celadon Group could get tipped into Chapter 7 if an adversary suit drags on over a secured lender's sweep-up of $6.2 million in debtor cash claimed by logistics broker TA Dispatch LLC, a Delaware judge cautioned Tuesday.

U.S. Bankruptcy Judge Karen B. Owens said during a Celadon status teleconference that she will hear arguments April 15 whether or not the money sought by TA Dispatch should be considered property of Celadon’s Chapter 11 estate and fair game for prepetition asset-based loan agent Midcap Funding IV Trust’s seizure.

The two sides, along with Celadon and prepetition term loan agent...

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!


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?
Ask a question!