SPECIAL REPORT: Roberson sets up escrow to make good on settlements

| 1/19/2005

If you drove for Roberson and are worried about getting money owed you - Celadon says don't. It's been set aside.

Celadon officially began assuming financial responsibility for settlement pay to drivers for all loads that originated after midnight Friday, Jan. 14. 

However, as part of the deal, Celadon required Roberson executives to set up an escrow of $950,000 to ensure settlement payments for all drivers who are owed, according to Craig Koven, communications manager of Celadon Group. Drivers who are missing a settlement check should contact a Celadon driver payroll representative at 1-800-CELADON (1-800-235-2366), Ext. 4750.

Koven said that Roberson officials said the nearly $1 million escrow fund would cover repayment of escrow accounts Roberson held on any owner-operators or company drivers. He explained that Celadon does not hold the escrow; Roberson will actually cut the checks, and Celadon will help distribute the checks.

Approximately 300 Roberson drivers were impacted by the sale of the van division to Celadon. Of those drivers, 40 are owner-operators and 260 are company drivers, Koven said.

Of the 40 owner-operators, 20 are on a lease-purchase program. Koven said Celadon plans to honor those leases, but those drivers will have to review their agreement with a Celadon representative.

 - By Jami Jones, Land Line staff