KSV Advisory Canada’s Leading Boutique Advisory, Restructuring and Valuations Firm.



Celadon Group, Inc. and its affiliated entities (collectively, the “Chapter 11 Debtors”) commenced proceedings by filing voluntary petitions for relief under Chapter 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware. Two of the Chapter 11 Debtors were Canadian corporations, being Celadon Canadian Holdings, Limited and Hyndman Transport Limited (“Hyndman”). The Chapter 11 Proceedings were recognized in Canada and we were appointed receiver (“Receiver”) of the Chapter 11 Debtors' property in Canada.

Until discontinuing all operations at the outset of the Chapter 11 proceedings, the Chapter 11 Debtors provided international truckload services between the US, Canada and Mexico. In Canada, Hyndman operated a fleet of approximately 310 tractors and trailers from owned properties located in Ayr, Ontario, Winnipeg, Manitoba and Wroxeter, Ontario. Hyndman had been in business since 1937 and was acquired by the Celadon group in 2005.

Upon discontinuing its business, Hyndman terminated its workforce, including substantially all of its employees and owner-operator drivers. We worked with the Chapter 11 Debtors to realize on the Canadian assets, including the liquidation of Hyndman’s rolling stock, accounts receivable collections and Hyndman’s three parcels of real estate. Our role also included: (a) developing a filing strategy that would maximize value for the largest stakeholder group, being the former Hyndman employees who were terminated without pay/notice; (b) administering the employee claims process in accordance with the Wage Earners Protection Program Act (“WEPPA”) so that over 360 former Hyndman employees could receive their respective entitlements under WEPPA; (c) dealing with unique trust claims asserted by owner/operator drivers; and (d) considering how the claims of Canadian stakeholders would most efficiently be addressed under the claims process supervised by the US court.