National Air Cargo Files for Chapter 11 Protection to Halt $9.9 Million Judgment

National Air Cargo Inc., a freight forwarder between North and South America, filed a Chapter 11 petition on Oct. 17 in Buffalo, N.Y., to halt enforcement of a $9.9 million judgment (In re National Air Cargo Inc., Bankr. W.D.N.Y., 14-12414, petition filed 10/17/14).

The bankruptcy was precipitated by Global BTG LLC’s attempts to enforce a judgment in its favor in a breach-of- contract suit, according to National Air Cargo.

Global’s attempt to seize the company’s primary bank account, tying up more than $500,000, is of “immediate concern,” the company said.

While National Air Cargo is actively pursuing ...