Kal Freight Adds Directors After Being Accused of Malfeasance
A judge approved adding independent directors to Kal Freight’s board after the bankrupt trucking firm was accused of double-pledging its trucks as collateral to obtain financing.
EV Charging Firm Ideanomics Files for Bankruptcy
Ideanomics, which owns technology used to charge electric buses and other commercial vehicles, has filed for bankruptcy.
CalAmp Files Bankruptcy to Complete Restructuring
CalAmp Corp., which develops business software designed to track vehicles and improve company logistics, has filed bankruptcy to complete a lender-backed plan to cut debt.
Old Dominion Tops Estes’ Bid for Yellow Terminals
Trucking company Old Dominion Freight Line Inc. has offered $1.5 billion to acquire Yellow Corp.’s 169 terminals out of bankruptcy, more than a previous offer from Estes Express Lines.
Citadel Acquires Yellow Debt Owned by Apollo, Other Lenders
An affiliate of Ken Griffin’s Citadel has acquired roughly $485 million in Yellow Corp. debt previously owned by Apollo Global Management and other lenders to the bankrupt trucking firm.
Lordstown Settles Karma Lawsuit for $40 Million
Lordstown Motors Corp. has agreed to pay $40 million to settle a Karma Automotive lawsuit alleging that the company lifted designs and technology to develop its flagship Endurance truck.
Lordstown Ordered to Face Trial Despite Bankruptcy
A Delaware judge permitted vehicle maker Karma Automotive to move forward with an upcoming trial in California against Lordstown Motors Corp. despite Lordstown's filing for bankruptcy.