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Ray's Transport Inc., a Macomb County trucking company, has filed for Chapter 11 bankruptcy following a legal battle with Stellantis NV.
Key Facts:
Filed under Subchapter V for small businesses
$4.6 million in assets, $1-10 million in liabilities
Largest creditor: Stellantis, with $1.2 million disputed claim
The Stellantis Saga:
Ray's Transport leased space from Stellantis since 2011. The automaker sued in 2021, claiming:
Lease expired Sept. 30, 2021
Property used for "impermissible parking operations"
Sublease revenue not properly shared
Legal Outcomes:
Judge ordered Ray's to vacate property immediately
Stellantis awarded $1.2 million in damages
Ray Almoosawi, owner, filed personal bankruptcy in February
Company Status:
Ray's Transport continues operations as a route broker. They bid out routes to independent contractors, working on an as-needed basis without long-term contracts.
"Authorizing the debtor's continued use of cash collateral is in the best interests of creditors," the company stated, emphasizing the higher value of an operating business versus liquidation.
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