Eugene-based Oregon Coachways is being sold while owner Frederick Darren Berg is in jail on white collar crime charges.
Eugene-based Oregon Coachways is being sold while owner Frederick Darren Berg is in jail awaiting a bail hearing.
Berg is accused of running a Ponzi scheme.
Trustee Diana Carey was appointed in August to operate about 20 companies owned by Berg, a Seattle man accused of running a Ponzi scheme, after he was ousted from the companies. Berg filed for personal bankruptcy protection in July but that filing did not include his companies, Carey said.
Carey said she put Oregon Coachways into a Chapter 11 bankruptcy on Tuesday “to cleanse the asset and sell it free and clear to a buyer … then the buyer’s getting a company that’s not encumbered with the past history of Darren Berg.”
Carey said Tuesday she has signed a letter of intent to sell Oregon Coachways to a national transportation management company. The prospective buyer has requested its name be kept confidential for now, she said. The potential purchase price also was not disclosed.
Read more at The Register-Guard.
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