Lila Kate Trucking LLC, a Roanoke, Alabama-based carrier, filed for Chapter 11 bankruptcy protection on Friday.
The company is seeking to reorganize under Subchapter V of Chapter 11, a provision designed to streamline restructuring for small businesses. The filing was made in the U.S. Bankruptcy Court for the Middle District of Alabama, according to court records.
Assets and liabilities
In its voluntary petition, Lila Kate Trucking estimated both its assets and liabilities at between $1 million and $10 million. The company reported having between one and 49 creditors.
The debtor indicated that after administrative expenses are paid, no funds would be available for distribution to unsecured creditors…