(WASHINGTON) – Today, Teamster Local Unions that represent more than 1,000 Allied Systems Holding workers unanimously supported informing its members on the need to take aggressive action – up to and including a lawful strike – if the current Black Diamond/Spectrum bid to buy Allied proceeds and is approved by the bankruptcy court on Tuesday, Sept. 10.
A hearing before the U.S. Bankruptcy Court in the Allied Systems’ bankruptcy case that was scheduled for Thursday, August 22 has been postponed by the court to noon Tuesday, September 10.
On Thursday, August 15, Allied Systems completed two days of an auction for its assets at a law office in Wilmington, Delaware. The company (Allied) declared the winning bid to an acquisition company formed by Black Diamond/Spectrum, over a bid by Jack Cooper Transport, whose employees are represented by the Teamsters.
As we previously mentioned in an update on June 11 and a subsequent conference call that the Bankruptcy Court in Allied Systems Holdings bankruptcy case has set a bar date of August 2, 2013 for the filing of claims that arose prior to the bankruptcy filing petition dates in May and June of 2012. Documents are available for this purpose.
On Wednesday, June 19, U.S. Bankruptcy Court Judge Sontchi approved revised motions by Allied Systems Holdings that establishes a process for interested parties to bid on Allied and bring it out of bankruptcy. Additionally, Judge Sontchi approved replacement debtor-inpossession (DIP) financing by Black Diamond and Spectrum to fund Allied through the sales process.