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Performance Transportation Services emerges from Chapter 11

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CCJ Staff (CCJ)
Jan 30, 2007
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Performance Transportation Services Inc. announced that it has met all requirements to emerge from Chapter 11 protection, and that it has implemented its court-approved plan of reorganization.

The Detroit-based transporter of automobiles, which filed for Chapter 11 protection more than a year ago on Jan. 25, 2006, said secured creditors will be fully repaid in cash and shares under the plan.

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