Logo
 
 
 Web  KCTribune 
BNSF Intermodal Partner Files Chapter 11
.
Intermodal shipping containers on a railway flat car.
Credit:  Wikimedia Commons
ABOUT THE AUTHOR

A Texas unit of Allen Group, one of the key partners in a proposed intermodal center between Gardner and Edgerton in southwestern Johnson County, has filed for Chapter 11 bankruptcy in connection with their Dallas Logistics intermodal center.

The company said the bankruptcy won’t affect its plans for Johnson County.

In a written statement Allen Group said the filing will allow it to “extend debt maturities, improve their capital structure and further strengthen the Dallas Logistic Hub’s competitive position. None of The Allen Group (TAG) organizations or their other entities in Kansas or California were included in the filings."

Court documents said the Texas intermodal has about $170 million in debt backed by collateral, and another $8 million in debt without collateral, and revenues of about $5 million a year.
The logistics park has about 6,000 acres.

The documents also said that the company has been talking to Dallas city officials and a Chinese company about a sale of more than 1,000 acres in the logistics park to the company, identified as China Supply and Logistics.

The company said it has notified local and state officials in Kansas about the filing and that it would have no impact in Kansas.

“The Allen Group notified us of this filing affecting their Texas property yesterday (Wednesday) morning and assured us their Kansas organization was not affected,” a BNSF spokesman said.
BNSF is the other partner in the venture. As proposed, BNSF would operate the intermodal center and Allen Group would operate the associated logistics park next to Gardner but to be annexed by Edgerton.

The proposal is the target of a federal lawsuit by opponents who insist that a more extensive environmental review be made.

Post A Comment
* Indicates required information
Comment Title:
* Comments:
Nickname:
* Validation:
Comments 1 comments for this article
Page:   <<  <   1   >  >>
Added: February 01, 2010. 10:30 PM CDT
Another lawsuit
https://www.nrdc.org/media/2010/100201b.asp www.helpairwater.com
lsm
Page:   <<  <   1   >  >>