By Clarissa Kell-Holland, Land Line staff writer
It appears that nearly 550 former employees and drivers of Arrow Trucking may receive their checks in the mail in time for Christmas. This comes nearly a year after the Tulsa-based company’s abrupt closure on Dec. 22, 2009.
On Wednesday, Dec. 8, U.S. Bankruptcy Court Judge Dana L. Rasure approved the amended interim distribution list of priority wage claimants, which was filed by Arrow Trucking bankruptcy trustee Patrick J. Malloy III on Dec. 2.
The payout of nearly $2 million will go to former Arrow Trucking employees and drivers who filed back wage and benefit claims.
There will still be a balance of more than $1.5 million to pay “future administrative claims and additional payments to the priority wage claimants, which have been filed to date and which may be filed in the future.”
In mid-November, Malloy told Land Line that he had hoped that checks could be issued to ex-employees “around the first of December,” but that date had to be moved back after an amended interim report had to be filed.
So far, approximately $4.6 million has been recovered, according to Malloy. In January, Arrow Trucking filed a Chapter 7 bankruptcy liquidation petition that listed assets at $8.55 million and liabilities at $98.97 million.
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