TULSA, OK -- Pending approval of the court, the bankruptcy trustee handling Arrow Tucking's case announced that approximately $2 million in back wages could be issued to ex-employees around the first of December.
Arrow’s books were in such a mess that former employees were hired to help reconstruct the debtor’s finances. The trustee was able to recover $4.6 million from assets listed at $8.55 million and liabilities of nearly $99 million.
Evidently, at least one trucker left stranded on December 22, 2009, and who had filed bad-check charges against his former boss in a Florida court, was paid this week. Former CEO Doug Pielsticker spent a day in a Oklahoma county lockup last week on the warrant out of Florida but was released on bail. The Florida court has dropped the charges after receiving evidence that the bad check had been paid.
From Tulsa World and Landline
Also see "Arrow Trucking Bankruptcy Plan Revealed" from Truckersnews
