John Kingston
1 min read
An Illinois carrier with 70 power units recently filed for Chapter 11 bankruptcy protection.
AZA Transportation listed assets of between $100,001 and $500,000 on its bankruptcy filing in the U.S. Bankruptcy Court for the Northern District of Illinois. It is based in Mount Prospect, which is in Cook County, the same county as Chicago. The company listed liabilities of $500,000 to $1 million.
The bankruptcy was filed May 14.
Of the 20 largest creditors listed in the bankruptcy filing, the largest combined claim is from Keystone Equipment Finance Corp. based in West Hartford, Connecticut. It has three separate claims totaling $82,905.
Another large creditor is Transportation Alliance Bank, based in Ogden, Utah. Its unsecured claim is $43,415, secured by a 2022 Freightliner.
That same bank also has a $23,640 claim against AZA, secured by a Great Dane trailer.
BMO, the former Bank of Montreal, which is a major lender to the trucking industry, has a claim of just under $20,000.
The total number of creditors is listed as between one and 49.
According to the Federal Motor Carrier Safety Administration’s SAFER document on AZA, AZA has 71 drivers for its 70 power units and carries general freight.
The SAFER document reports no crashes for AZA in the 24 months prior to the bankruptcy. Its vehicle out-of-service rate for those two years was 12%, less than the national average of 22.26%. But its driver out-of-service percentage of 9.5% was more than the national average of 6.67%.
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