Country Wide Transport Services Inc. makes announcement.CORONA, Calif.--(BUSINESS WIRE)--Jan. 6, 1997--Country Wide Transport Services The collective functions of layers 1 through 4 of the OSI model. Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CWTS CWTS Civic Welfare Training Service (Phillipines) CWTS Christian Witness Theological Seminary (Concord, CA) CWTS Chinese Wireless Telecommunication Standard ) Monday announced that its subsidiary, Country Wide Truck Service Inc., effective Jan. 3, 1997, has made a General Assignment for the Benefit of Creditors. An assignment for the benefit of creditors is a liquidation process similar to a Chapter 7 filing. The Hamer Group of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. will act as assignee assignee (assign) n. a person to whom property is transferred by sale or gift, particularly real property. (See: assign) ASSIGNEE. One to whom an assignment has been made. 2. in this General Assignment. Among other tasks, they will complete a sale of the assets of Country Wide Truck Service to Mid-Cal Express Inc. Timothy Lepper, president and chief executive officer of Country Wide Transport Services, commented: ``Continued losses, since September 1995, in conjunction with a difficult trucking environment prompted the company to make this decision. The move to liquidate the trucking operation came shortly after an anticipated merger with Continental American Transportation Inc. was suspended.'' Country Wide Transport Services, the corporate holding company, will now consist of only one operating subsidiary, Vertex Transportation Inc., a logistics services company. CONTACT: Country Wide Transport Services Inc., Corona Timothy Lepper, 800/421-2757 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion