Celadon Group Inc. (CGIP)

[WHITTENHALLJR]

They overstated the value of trucks which depreciate quickly and the trucks are still there the fraud is in the overvaluation.... I bet they’ll be back at the table with these guys >>>>Celadon entered the week with scant cash in its accounts to continue operations, but was negotiating with creditors Luminis and Blue Torch to secure further financing. Those talks fell through Thursday morning, December 4, when talks between Blue Torch and Luminis broke down over collateral issues. Blue Torch owned 70% of the debt and Luminus owned 30%.