GE Capital sues Cannon in U.S. District Court

Transport Topics, June, 2003 by Wlazlowski, Tiffany

Truckload carrier Cannon Express said June 25 that General Electric Capital Corp. had filed suit against several of its subsidiaries, seeking money and a temporary restraining order against the use of some equipment in which GECC has a security interest.

GECC filed suit June 11 in the District Court of Dallas County, Texas, and named as defendants Cannon Express, TCC Leasing Inc. and Cannon Express Corp., the truckload carrier said in a prepared statement.

Springdale, Ark.-based Cannon, said that as a result on June 19 the district court had granted a temporary restraining order.

That order prohibited further use of some of the fleet's equipment, after deliveries already in progress were completed.

Cannon has been operating under new management since the end...

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