Inc. has filed a request for reorganization protection in the
U.S. Bankruptcy Court in Oklahoma City. The company, specializing
in transporting refrigerated freight, cites economic issues.
downsized over the past three years from about 2,400 trucks and
drivers to 850 trucks and 1,100 trailers. Since 1998, the company
has been embroiled in two separate class actions filed by the
Owner-Operator Independent Drivers Association alleging illegal
of drivers have suffered at the hands of companies who willfully
violate the federal truth-in-leasing regulations," OOIDA
President Jim Johnston said Tuesday. "OOIDA has no intention
of walking away from the Rocor litigation because of the bankruptcy
the association plans to evaluate all alternatives available to
prevent Rocor, or its officers and directors, from escaping their
obligations through the use of the bankruptcy courts.
to an article in the Aug. 7 Oklahoman, records show the company
has more than 1,000 creditors and debts of more than $100 million,
$40 million of which is unsecured. Rocor's president, Bill Wiley,
told the Oklahoman the company will continue to operate and is
already looking at a potential buyer.
-- Sandi Soendker