Tax lien filed against Arrow Trucking Co.

**fortwayne** · 01-04-2010, 06:10 PM

You can bet the state and other creditors will get their money before the drivers do!

NewsOK

**xiggi** · 01-04-2010, 10:24 PM

Seems I heard that in OK employees owed backpay do come before other creditors.

**davekc** · 01-04-2010, 10:51 PM

Originally Posted by xiggi

Seems I heard that in OK employees owed backpay do come before other creditors.

Other creditors maybe, before the goverment, not likely.

**Tennesseahawk** · 01-04-2010, 11:03 PM

Yep... the government ain't "other creditors". They be the Massah!

**fortwayne** · 01-05-2010, 10:34 AM

Here is the way any payment out of the Arrow assets will go:

(1) Federal Government
(2) State Government
(3) Local Government
(4) states that have not been paid their IFTA fuel taxes
(5) any public utility companies owned monies by Arrow
(6) any fuel supplier/fuel credit card company owned monies
(7) court cost of any collection by the governments
(8) lawyers to cover their cost - ok this should be moved up to number 5!
(9) creditors still left owned monies
(10) former drivers and employees owned monies

This is just IMO of course.......

**greg334** · 01-05-2010, 11:50 AM

The original article cited was about a previous court case and bench warrants being issues for non-payment of a settlement, not about taxes. The execs may be liable for the companies debts, so it is a lesson - just because you have a corporation doesn't mean they can't go after your personal stuff.

The tax lean is normal in a default like this, but the fact remains to be seen if they file for bankruptcy, then the judge will determine who gets what.