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Unbeknownst to anyone outside of a few higher ups however, their appearance of success was the result of taking loan after loan until they were up to their eyeballs in debt. In fact, just a year before, they had signed a deal to replace their 1,400 truck fleet with newer models over the next five years they were operating in the U.S., Canada, and Mexico and they had over 1,700 employees. But "my experience has been in these cases that we're going to find evidence months earlier that things were precarious.To understand where these charges come from, we have to understand the circumstances that lead to Arrow’s bankruptcy.Įveryone believed that Arrow Trucking had been doing well right up until their collapse. In court, Arrow will claim that a creditor pulled out suddenly, Ercole predicts. But in an ad earlier this year, it prominently featured a quote by Arrow's chief financial officer calling the bank "a strategic partner."
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Transportation Alliance Bank, an Ogden, Utah, issuer of credit cards to truck owner-operators and trucking companies, would not confirm that it was the issuer of those cards.
Arrow trucking drivers#
19, when its drivers could no longer use their company credit cards to buy fuel. Apparently, the company's operations broke down after the weekend of Dec. As of Monday, Daimler had recovered 590 of the nearly 1,000 Freightliner trucks it had leased to Arrow.Ī key question in the lawsuit is whether Arrow executives knew their company was in trouble or whether a lender pulled out unexpectedly. Daimler booked at least 75 Greyhound tickets to get drivers home and gave $200 in compensation for personal travel to another 150 drivers or more. The two companies swung into action to help the stranded drivers after reports of Arrow's shutdown last week. If it files for bankruptcy, that might make for a more orderly disposition of assets, the attorney said, although employees' claims would come behind banks that loaned money to Arrow as well as Daimler Trucks and Navistar, which leased trucks to the company. With the company in apparent limbo – and company executives unreachable – Arrow's next step was unclear. The suit will also address other violations of state and local laws that Arrow employees have alleged, including bounced paychecks, unpaid medical premium payments, and nonreimbursement of out-of-pocket expenses, Ercole said. The suit claims the company violated the federal Worker Adjustment and Retraining Notification Act (WARN), which mandates that employees with at least 100 employees give them 60 days' notice before a plant closing or mass layoff. 28 in federal district court in Tulsa, Okla. Ercole, who said he's been contacted by some 100 Arrow employees, planned to file suit Dec. "People's paychecks on the 15th bounced." "It was just outrageous conduct, I think, to do it on the eve of Christmas," said Chuck Ercole, an attorney with Klehr Harrison Harvey Branzburg LLP in Philadelphia. On Tuesday, the company abruptly told its headquarters staff to pack up and go home. Many of them found out their employer was shutting down when their company-issued fuel cards wouldn't work. Instead, Arrow last week stranded hundreds of its drivers around the country. A principal charge: The Tulsa, Okla., flatbed carrier broke federal law by not giving its employees 60 days' notice about its precarious financial state.
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A class-action lawsuit against Arrow Trucking was expected to be filed in federal court Monday.