Closing the Bankruptcy Case
On January 23, 2019, the Bankruptcy Court entered an order closing the bankruptcy case of Pac Anchor. This means that Pac Anchor is no longer under the supervision of the Bankruptcy Court and the bankrupt case is closed. Pac Anchor will continue to make the payments required under the Plan, but otherwise is free to operate normally.
The primary objective for Pac Anchor’s Chapter 11 reorganization was to resolve Pac Anchor’s potential liability associated with its practice of compensating its drivers as 1099 independent contractors rather than as W-2 hourly employees.
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