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Major lender to trucking firm Pride Group alleges fraud in lawsuit against co-founders

One of Pride Group Holdings Inc.’s major lenders is suing the trucking company’s co-founders, Sam and Jasvir Johal, and alleging fraud, complicating the… ....

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Morning Update: Israel's potential shift on conscription of ultra-Orthodox Jews threatens to split Netanyahu coalition

Also: Long before social media, O.J. Simpson was an influencer ....

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Major lender to trucking firm Pride Group alleges fraud in lawsuit against co-founders

Mitsubishi HC Capital Canada Inc., which lent money to Pride for the purposes of buying and leasing trucks, has filed multiple lawsuits against Sam and Jasvir Johal in Canada and the United States ....

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Trucking firm Pride Group given two months to restructure $1.6-billion of debt – and it won't be easy

In a strong market, Pride’s trucks could be sold or re-leased to a competitor, but that isn’t very feasible for any operator in the current environment ....

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Pride Group's bankruptcy filing underscores impact of trucking downturn

Pride Group filed for bankruptcy protection last week, citing capacity oversupply and underwhelming demand for trucks. The post Pride Group’s bankruptcy filing underscores impact of trucking downturn appeared first on FreightWaves. ....

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