ELLIOTT GREENLEAF SECURES MEANINGFUL RECOVERY FOR UNSECURED CREDITORS AND TO PROMOTE THE CONTINUED EXISTENCE OF A LONG-STANDING BUSINESS

Elliott Greenleaf successfully secured Bankruptcy Court approval for a resolution of the unsecured claims of its client Estes Express Lines at a hearing before in the United States Bankruptcy Court for the Middle District of Florida, Tampa Division in the In re Cargo Transportation bankruptcy. The agreement struck between the Debtors, secured lender Comerica and the unsecured creditors committee, paves the way for Estes to become the preferred less-than-truckload carrier for the Debtor, which has based the success of their emergence from chapter 11 on finding a premier national LTL carrier for their customers. Estes was approved as a critical trade vendor and will be paid its prepetition claims in full. Estes has been offering reliable less-than-truckload services since 1931. Estes Express Lines commemorated its 80th anniversary in 2011, which was particularly meaningful in a time when the severe economic recession has driven many transportation companies out of the marketplace. Rafael Zahralddin and Shelley Kinsella of the Firm’s Wilmington office are leading the Firm’s efforts in this representation.