Debtors tied to a shuttered Northern California-based trucking business, NTL Truck Line, filed for Chapter 7 bankruptcy on April 24.
The company, located 74 miles east of San Francisco in the Central Valley, had financial problems as early as May 1, 2025, when it failed to make payments on trailers it acquired in 2020 and 2023, according to a lawsuit by BMO Bank.
The bank made demand letters for the property on Sept. 26, but the business also shuttered that month, according to legal filings.
The market exit represented a sizable carrier: According to a Federal Motor Carrier Safety Administration database, the business had 36 power units and 35 drivers as of May 14, 2025.
The debtors, Kulwant Singh and, Sukhwinder Kaur, reported over $721,000 in assets and $8.1 million in liabilities.
A day before the bankruptcy filing, a federal court in Illinois agreed to a BMO proposed order that NTL and Singh were in default and owed $483,068.70 for five Wabash trailers plus other fees.
Meanwhile, BMO has had impairments skyrocket in its transportation portfolio in recent quarters. The bank announced last week that it was selling its transportation finance and vendor finance businesses to alternative investment firm Stonespeak.
BMO’s loan and lease portfolio totaled approximately C$14.5 billion ($10.6 billion) as of March 31.
