🎣 FMCSA to Fight Fraud
Plus: The US Chamber of Commerce challenges the FTC ruling on banning non-competes, Covenant Logistics' profits plummet, and Tesla postpones Semi production until late 2025.
The major Canadian carrier and leasing firm has been rocked by a massive $100 million lawsuit from Mitsubishi HC Capital America. This move offers a temporary shield against the storm of claims totaling $637 million from over 20 lenders.
Yellow sought bankruptcy court to tackle its pension fund claims to avoid arbitration. Meanwhile, the Teamsters fended off Yellow's breach of contract accusation earlier this week.
Central California Cartage, a freight logistics company, faces bankruptcy with significant debts and a drop in revenue.
Nationwide Cargo, an Illinois trucking firm with 171 drivers, has filed for Chapter 11 bankruptcy.
TBL Logistics, a family-run trucking firm, files for Chapter 7 bankruptcy.
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