Bankrupt Trucker NEMF Seeks Court Approval of Chapter 11 Liquidation Plan

The Wall Street Journal 3 weeks ago

Bankrupt trucking company New England Motor Freight Inc. has received support from the majority of its lenders and creditors for its proposed chapter 11 liquidation plan, paving the way for a drama-free confirmation process.

NEMF reached settlement agreements with its top lenders, equity holders and representatives of former employees in hopes of getting its liquidation plan approved. About $15 million would be available for distribution to unsecured creditors under the proposed liquidation plan.

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