Mondovi, WI-based refrigerated truckload carrier Marten Transport has settled a lawsuit involving MW Logistics, in which it owns a 45% stake, and the trustee of the bankruptcy estate of Mitchell Ward Trucking.
Marten is paying the Mitchell Ward estate a one-time $275,000 lump sum, which Marten claims will “have no material impact” on its bottom line, in return for dismissal of the lawsuit.
The suit, filed in U.S. Bankruptcy Court for the Eastern District of Texas in April 2002, alleged that MW Logistics – a third party logistics provider – and its officers, Mitchell Ward and Randy Bowman, conspired with Marten to divert business away from one of the debt holders of now-defunct Mitchell Ward Trucking.
