TRISM Reorganization Plan Approved
December 09, 1999
TRISM, Inc. has had its Chapter 11 reorganization plan approved by the U.S. Bankruptcy Court in Delaware.
Under the plan, the specialized carrier will significantly reduce its long-term debt, pay all trade debt in full and, under the direction of its current management team, continue with its trucking operations. Final plan approval is contingent on the finalization of required documentation and completion of a $42.5 million loan which the fleet will use for ongoing operations.
"As we emerge from Chapter 11, our improved capital structure positions TRISM for future aggressive profitable growth," said Edward L. Mccormick, TRISM president and CEO.