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Directors resign as TCT officially goes into receivership

CALGARY, Alta. -- All members of the TCT Logistics board of directors have resigned following an official announcem...


CALGARY, Alta. — All members of the TCT Logistics board of directors have resigned following an official announcement that the company has gone into receivership.

A short press release issued this afternoon says "TCT Logistics Inc. (TSE-TLI) announced today that KPMG Inc. has been appointed interim receiver of the company and its affiliates by order of the Ontario Superior Court of Justice, under the Bankruptcy and Insolvency Act."

As reported earlier today by Truck News, the writing has been on the wall for nearly a week.

A source within the organization told Truck West earlier today that the receiver will guarantee wages for TCT drivers and owner/operators.


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