Jack Cooper Ventures

Jack Cooper Ventures, a Kennesaw, Georgia-based auto hauler that recently filed for Chapter 11 bankruptcy protection, obtained an initial recognition order in Canada on August 9. Founded in 1928, the company has grown to be the largest provider of finished vehicle logistics in North America, but in recent years it has experienced significant declines in revenue as a result of overall declines in the automotive industry, as well as a loss of market share to lower cost, non-unionized competitors. In Canada, the company has approximately 181 employees. The company is putting forward a restructuring plan that will see its lenders cancel more than $300 million of debt as part of a transaction to purchase all or substantially all of the company's assets. Alvarez & Marsal was appointed information officer. Canadian counsel is Osler for the company, Stikeman Elliott for the information officer, Goodmans for the DIP ABL lender, Bennett Jones for the DIP Term Loan Agent and Cassels Brock for Cerberus.