Insolvent

Lawsuit claims Celadon collected and spent $6.2 million in receivables belonging to TA Express LLC, alleges the company admitted it was insolvent weeks prior to filing for bankruptcy protection.

Redstar Transport, a large long-distance and heavy-freight trucking business, collapsed in Australia after running out of cash just days before Christmas. Hundreds of people have been thrown out of work. Cargo has been returned to the depot. And the liquidation of Redstar may have wider consequences than is first apparent.