Wednesday, April 6, 2011

Arrow Trucking property auctioned

TULSA, OK -- The last remaining property of defunct Arrow Trucking sold at sheriff's auction Tuesday to the mortgage holder, and only bidder, City National. The $2.8 million price received will be be added as a credit against Arrow's nearly $100 million in debts.

Arrow's former owners, Doug Pielsticker and his mother Carol, are facing several lawsuits, the most recent claiming both had fraudulently received millions around the time of the January 2010 bankruptcy.