Agreed Order Approving Interstate Bank’s 

Mot. for Rel. from Auto. Stay and For Adq. Prot. – Page 1 

IN THE UNITED STATES BANKRUPTCY COURT 

FOR THE NORTHERN DISTRICT OF TEXAS 

AMARILLO DIVISION 

In Re: 

M&G TRANSPORTATION, LLC 

 Debtor. 

§ 

§ 

§ 

§ 

§ 

Case No. 24-20129-RLJ11V 

AGREED ORDER ON INTERSTATE BANK’S MOTION FOR RELIEF FROM THE 

AUTOMATIC STAY AND FOR ADQUATE PROTECTION 

On this day, came on to be considered the Agreed Motion for Relief from Automatic Stay 

and for Adequate Protection that was filed by Interstate Bank in the above entitled and numbered 

bankruptcy case, and the Court having considered the motion, and the motion having been 

properly noticed to the Debtor, Debtor’s Counsel, the Office of the U.S. Trustee, and all creditors 

and parties in interest, and having been advised by Interstate Bank and the Debtor, that the 

parties have entered into an agreement regarding the termination of the stay FINDS: 

1. That all creditors and parties in interest have received adequate notice and 

opportunity to object; 

2. That as of the date of the filing of Debtor’s bankruptcy case, M&G

United States Bankruptcy Judge

Signed June 5, 2024

______________________________________________________________________

The following constitutes the ruling of the court and has the force and effect therein described.

Case 24-20129-rlj11 Doc 53 Filed 06/06/24 Entered 06/06/24 09:22:38 Desc Main

Document Page 1 of 7
Agreed Order Approving Interstate Bank’s 

Mot. for Rel. from Auto. Stay and For Adq. Prot. – Page 2 

Transportation, LLC (the “Debtor”) was indebted to Interstate Bank. 

3. The Debtor has indicated its intention to surrender the vehicles, tractors, and 

trailers listed on Exhibit A to Interstate Bank (the “Surrendered Rolling Stock”). The Parties 

agree that the Debtor does not have any equity in the Surrendered Rolling Stock and that the 

Surrendered Rolling Stock is not necessary for a reorganization. 

4. Interstate Bank is requesting that the stay be terminated as against the Surrendered 

Rolling Stock so that it may enforce its legal rights and remedies pursuant to the Loan 

Documents and state law. 

5. That cause exists to terminate the stay because the Debtor is in default under the 

Loan Documents, the Debtor does not have any equity in the Surrendered Rolling Stock, and the 

Surrendered Rolling Stock is not necessary for an effective reorganization. 

6. That the Debtor has agreed to the termination of the automatic stay to allow 

Interstate Bank the ability to take possession of the Surrendered Rolling Stock and to dispose of 

it pursuant to the Loan Documents and state law. 

7. That the Debtor further agrees to assist Interstate with the delivery of the 

surrendered Rolling Stock to a location in Amarillo, Texas designated by Interstate. 

8. That the Debtor intends to use the vehicles, tractors, and trailers listed on Exhibit 

B (the “Remaining Rolling Stock”) in its business operations. 

9. That the Debtor’s use of the Remaining Rolling Stock will cause a diminution in 

value to the Remaining Rolling Stock, i.e. the collateral of Interstate Bank, post-petition. 

10. That to adequately protect Interstate Bank for the use of the Remaining Rolling 

Stock, the Debtor will pay to Interstate Bank monthly adequate protection payments of $10,000 

with the first payment due on June 15, 2024, and each subsequent payment due on the same day 

Case 24-20129-rlj11 Doc 53 Filed 06/06/24 Entered 06/06/24 09:22:38 Desc Main

Document Page 2 of 7
Agreed Order Approving Interstate Bank’s 

Mot. for Rel. from Auto. Stay and For Adq. Prot. – Page 3 

of each succeeding month until the Debtor has confirmed a plan of reorganization, the case is 

converted to Chapter 7 of the Bankruptcy Code, the case is dismissed, or further order of this 

Court. 

11. That as further adequate protection, the Debtor will maintain insurance coverage 

on the Remaining Rolling Stock and list Interstate Bank as the loss payee. 

Accordingly, the Court hereby ORDERS that the automatic stay which was entered into 

pursuant to 11 U.S.C. § 362 is terminated as it pertains to the Surrendered Rolling Stock and 

Interstate Bank’s secured interest in the Surrendered Rolling Stock as follows: the automatic 

stay as against the Surrendered Rolling Stock shall be terminated upon entry of this Order, 

Interstate Bank is authorized to take possession of the Surrendered Rolling Stock, Interstate Bank 

is authorized to exercise any and all remedies afforded it pursuant to the terms of the Loan 

Documents, including selling the Surrendered Rolling Stock in a commercially reasonable 

manner and applying the sales proceeds to reduce the indebtedness owed to Interstate Bank by 

the Debtor. 

The Court further ORDERS that the Debtor and all parties in interest reserve any rights 

they may have to have this Court determine whether any sale conducted by Interstate Bank was 

done in a commercially reasonable manner. 

The Court further ORDERS that the Debtor is authorized to make payment in the amount 

of $10,0000 per month to Interstate Bank as adequate protection of its interest in the Remaining 

Rolling Stock to be used by the Debtor post-petition. The first payment of $10,000 shall be made 

on June 15, 2024, with each subsequent payment due on the same day of each succeeding month 

until the Debtor has confirmed a plan of reorganization, the case is converted to Chapter 7 of the 

Bankruptcy Code, the case is dismissed, or further order of this Court. 

Case 24-20129-rlj11 Doc 53 Filed 06/06/24 Entered 06/06/24 09:22:38 Desc Main

Document Page 3 of 7
Agreed Order Approving Interstate Bank’s 

Mot. for Rel. from Auto. Stay and For Adq. Prot. – Page 4 

The Court further ORDERS that the Debtor shall maintain insurance coverage on the 

Remaining Rolling Stock according to the industry standard for the Debtor’s industry and name 

Interstate Bank as loss payee as additional adequate protection of the Debtor’s use of the 

Remaining Rolling Stock. 

The Court further ORDERS that Interstate Bank reserves its rights to seek relief from the 

stay if the Debtor fails to timely make the monthly adequate protection payments or if the Debtor 

fails to maintain adequate insurance or fails to name Interstate Bank as the loss payee on any 

insurance policy covering the Remaining Rolling Stock. Interstate Bank further reserves its 

rights to seek additional adequate protection should the Debtor not have confirmed a plan of 

reorganization by October 15, 2024. 

The Court further ORDERS that the stay provided under Rule 4001(a)(3) is waived and 

not in effect upon entry of this Order. 

 All other relief not specifically requested is denied. 

### End of Order ### 

Case 24-20129-rlj11 Doc 53 Filed 06/06/24 Entered 06/06/24 09:22:38 Desc Main

Document Page 4 of 7
Agreed Order Approving Interstate Bank’s 

Mot. for Rel. from Auto. Stay and For Adq. Prot. – Page 5 

CONTENT AND FORMAT APPROVED AND ENTRY REQUESTED:

By: /s/ Brad W. Odell 

Brad W. Odell, SBN 24065839 

MULLIN HOARD & BROWN, LLP 

P.O. Box 2585 

Lubbock, Texas 79408-2585 

(806) 765-7491 Telephone 

(806) 765-0553 Facsimile 

Email: bodell@mhba.com

-andMULLIN HOARD & BROWN, LLP 

Don Sunderland, SBN: 19511800 

Alysia Córdova, SBN: 24074076 

P.O. Box 31656 

Amarillo, Texas 79120-1656 

Telephone: (806) 372-5050 

Facsimile: (806) 372-5086 

dsunderl@mhba.com 

acordova@mhba.com 

Attorneys for Interstate Bank 

-andCAROTHERS & HAUSWIRTH LLP 

/s/ Gregory W. Hauswirth (w/ permission) 

Patrick W. Carothers (PA ID No. 85721)* 

Gregory W. Hauswirth (PA ID No. 307482)* 

Foster Plaza 10 

680 Andersen Drive, Suite 230 

Pittsburgh, PA 15220 

Telephone: 412.910.7500 

Facsimile: 412.910.7510 

pcarothers@ch-legal.com 

ghauswirth@ch-legal.com 

*admitted pro hac vice

Proposed Attorney for Debtor, 

M&G Transportation, LLC

Case 24-20129-rlj11 Doc 53 Filed 06/06/24 Entered 06/06/24 09:22:38 Desc Main

Document Page 5 of 7
Line No. Year Make Model Serial/VIN Cond. Loan #

1 2005 Ford F-450 1FDXF46P36EB43038 Operational- repair work needed 60856

2 2014 Freightliner Cascadia 125 1FUJGLDV2ELFW0532 Not operational - new engine needed 80114

3 2015 Freightliner Cascadia 125 3AKJGLD5XFSGM8685 Totaled - Litigation - Accident 60856

4 2015 Freightliner Cascadia 125 3AKJGLD61FSGE7901 Not operational - new engine needed 60856

5 2013 Freightliner Cascadia 125 3AKJGLDR3DSFB4726 Not operational - new engine needed 60856

6 2016 Freightliner Cascadia 125 3AKJGLDR5GSGZ1948 Not operational - new engine needed 60856

7 2019 Freightliner Cascadia 123 3AKJHHDR2KSHU6083 Operational 60856

8 2019 Freightliner Cascadia 123 3AKJHHDR7KSHU6029 Operational 60856

9 2001 Great Dane Reefer Trailer 1GRAA06221S041705 Operational 60856

10 2001 Great Dane Reefer Trailer 1GRAA062X1S041709 Operational 60856

11 2009 International Prostar 2HSCUAPR89C134375 Operational 60856

12 2016 Utility Reefer Trailer 1UTVS2533GU539425 Operational 60856

13 2014 Utility Reefer Trailer 1UYVS2531EU772412 Operational 60856

14 2011 Utility Reefer Trailer 1UYVS2534EM774090 Operational 60856

15 2012 Utility Reefer Trailer 1UYVS2536CU248251 Operational 60856

16 2015 Utility Reefer Trailer 1UYVS2537FU280596 Operational 80114

17 2014 Utility Reefer Trailer 1UYVS2535EU798706 Operational 60856

18 2011 Wabash Reefer Trailer 1JJV532B7BL382222 Operational 60856

19 2014 Utility Reefer Trailer 1UYVS253XEU760551 Operational 60856

20 2012 Utility Reefer Trailer 1UYVS2536CU463306 Operational 60916

21 2011 Great Dane Reefer Trailer 1GRAA062XBB700891 Operational 80114

22 2010 Utility Reefer Trailer 1UYVS2531AU805001 Operational 80114

23 2009 Utility Reefer Trailer 1UYVS25349U708502 Operational 60856

24 2012 Utility Reefer Trailer 1UYVS2538CU247845 Operational 60856

25 2012 Utility Reefer Trailer 1UYVS2539CU247806 Operational 60856

26 2013 Wabash Reefer Trailer 1JJV532BXDL769236 Operational 60856

27 2011 Wabash Reefer Trailer 1JJV532B5BL368965 Operational 80114

28 2011 Wabash Reefer Trailer 1JJV532B3BL382198 Operational 60856

29 2009 Volvo VNL64T 4V4NC9KK09N267482 Not operational - new transmission needed 60856

30 2009 Volvo VNL64T 4V4NC9KK09N267515 Not operational - new transmission needed 60856

31 2021 Cargo Assume 18' AD6EB1821CC031748 Operational 60856

Exhibit A - Collateral to be Surrendered

Case 24-20129-rlj11 Doc 53 Filed 06/06/24 Entered 06/06/24 09:22:38 Desc Main

Document Page 6 of 7
Line No. Year Make Model Serial/VIN Cond. Loan # 

1 2021 Ford F-250 1FT7W2BT8MEE07170 Operational 60856

2 2021 Ford F-250 1FT8W2BT6MED89031 Operational 60856

3 2016 Freightliner Cascadia 125 1FUJGLDR8GLGW8515 Operational 60856

4 2014 Freightliner Cascadia 125 1FUJGLDV8ELFW0521 Operational 60856

5 2015 Freightliner Cascadia 125 3AKJGLD57FSGM7459 Operational 60856

6 2021 Freightliner Cascadia 123 3AKJHHDR8MSMK8615 Operational 60856

7 2015 Great Dane Reefer Trailer 1GRAA0627EB703638 Operational 60856

8 2019 Ram 1500 1C6SRFJT1KN543929 Operational 60856

9 2011 Utility Reefer Trailer 1UYVS2530BU110008 Operational 60856

10 2012 Utility Reefer Trailer 1UYVS2530CU248262 Operational 60856

11 2016 Utility Reefer Trailer 1UYVS2530GU539110 Operational- Accident 60856

12 2017 Utility Reefer Trailer 1UYVS2530HU806702 Operational 60856

13 2016 Utility Reefer Trailer 1UYVS2531GU538919 Operational 60856

14 2016 Utility Reefer Trailer 1UYVS2531GU539004 Operational 60856

15 2012 Utility Reefer Trailer 1UYVS2532CU190946 Operational 60856

16 2012 Utility Reefer Trailer 1UYVS2532CU247842 Operational 60856

17 2014 Utility Reefer Trailer 1UYVS2532EU999401 Operational 60916

18 2015 Utility Reefer Trailer 1UYVS23532FU186206 Operational 60856

19 2017 Utility Reefer Trailer 1UYVS2532H2069319 Operational 60856

20 2012 Utility Reefer Trailer 1UYVS2533CM355919 Operational 60916

21 2012 Utility Reefer Trailer 1UYVS2533CM355922 Operational 60916

22 2015 Utility Reefer Trailer 1UYVS2533FM332306 Operational 60856

23 2017 Utility Reefer Trailer 1UYVS2533HU767622 Operational 60916

24 2014 Utility Reefer Trailer 1UYVS2534EU857602 Operational 60856

25 2015 Utility Reefer Trailer 1UYVS253FM332220 Operational 60856

26 2015 Utility Reefer Trailer 1UYVS2534FM332265 Operational 60856

27 2015 Utility Reefer Trailer 1UYVS2535FM332324 Operational 60856

28 2016 Utility Reefer Trailer 1UYVS2535GU539216 Operational 60856

29 2011 Utility Reefer Trailer 1UYVS2536DU552407 Operational 60856

30 2015 Utility Reefer Trailer 1UYVS2536FM332333 Operational 60856

31 2016 Utility Reefer Trailer 1UYVS2536GU538950 Operational 60856

32 2016 Utility Reefer Trailer 1UYVS2536GU539385 Operational 60856

33 2012 Utility Reefer Trailer 1UYVS2537CU247805 Operational 60856

34 2014 Utility Reefer Trailer 1UYVS2537EU772236 Operational 60856

35 2014 Utility Reefer Trailer 1UYVS2537EU772317 Operational 60856

36 2015 Utility Reefer Trailer 1UYVS2537FU186444 Operational 60856

37 2016 Utility Reefer Trailer 1UYVS2537GU539041 Operational 60856

38 2016 Utility Reefer Trailer 1UYVS2537GU539279 Operational 60856

39 2016 Utility Reefer Trailer 1UYVS2537GU539282 Operational 60856

40 2016 Utility Reefer Trailer 1UYVS2537GU539394 Operational 60856

41 2017 Utility Reefer Trailer 1UYVS2537HU767316 Operational 60916

42 2010 Utility Reefer Trailer 1UYVS2538AU875319 Operational 60856

43 2013 Utility Reefer Trailer 1UYVS2539DM491621 Operational 80114

44 2014 Utility Reefer Trailer 1UYVS2539EU772271 Operational 60916

45 2017 Utility Reefer Trailer 1UYVS2539HU767320 Operational 60856

46 2012 Utility Reefer Trailer 1UYVS253XCU247815 Operational 60856

47 2017 Utility Reefer Trailer 1UYVS253XHU767407 Operational 60916

48 2011 Wabash Reefer Trailer 1JJV532B1BL382457 Operational 60856

49 2011 Wabash Reefer Trailer 1JJV532B8BL382374 Operational 60856

50 2015 Wabash Reefer Trailer 1JJV532BXFL863197 Operational 60856

Exhibit B - Collateral to be retained

Case 24-20129-rlj11 Doc 53 Filed 06/06/24 Entered 06/06/24 09:22:38 Desc Main

Document Page 7 of 7