OOIDA vs Intrenet...

The OOIDA lawsuit was filed as a class action Intrenet Inc., four subsidiary companies of Intrenet and Huntington National Bank, on behalf of all owner-operators under lease to any of four subsidiary motor carriers - Roadrunner Distribution, Roadrunner Trucking, Advanced Distribution System, and Eck Miller Transportation. Intrenet Inc. ceased operation on January 2, 2001, and more than 1,000 owner-operators leased to four carriers were terminated as of that date.

 In its complaint, OOIDA had sought to separate from the bankruptcy estate, the escrow funds held by the defendants at the time of the bankruptcy. The suit also requested the return of all escrow funds to individual owner-operators, prior to the payment of the amounts due to creditors.

Status...

• This matter has been settled.  The Huntington Bank has agreed to pay $400,000 out of a possible $585,000 in escrow funds which are to be returned to class members.  The application for approval of the settlement is pending before the Bankruptcy Court.  We are advised that the Judge will be reviewing the Order approving the settlement early in January.

In the news

• OOIDA settles Intrenet suit for return of escrow funds (9/23/03)
• Court issues summary judgment in favor of OOIDA in Intrenet suit - declares escrow accounts are statutory trusts separate from bankruptcy estates (1/11/02)
• OOIDA files claimes in Intrenet bankruptcy for return of owner-operator escrow funds (4/2/01)

Court Documents...

• no documents available