This company is also known as PTS group. They own E&L Transport, Hadley, just to name a few. The following link goes to an article related to their Chapter 11 filing.
Performance Transportation Services, Inc. Receives Court Approval on First-Day Motions in its Voluntary Chapter 11 Filing
Received a call last week from someone from US Business Review on this very subject. Supposedly, PTS is emerging from bankruptcy. It looks like they have gotten to the point where they can control their destiny, so to speak, but I didn't see anything in this particular news story that says they are "definitively" out, and that the BK has been discharged. But perhaps I am missing something.
According to Wikipedia, this is the definition of "Debtor in Possession":
debtor in possession
A debtor in possession, in United States bankruptcy law, is a person who has filed a bankruptcy petition, but remains in possession of property upon which a creditor has a lien or similar security interest. Under certain circumstances, the debtor in possession may be able to keep the property by paying the creditor the fair market value, as opposed to the contract price. This is often the case where the property is a personal vehicle which has depreciated in value since the time of the purpose, and which the debtor needs in order to be able to find or continue employment to pay off his debts.
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