Bankruptcy court approves sale of Summit to management group

Summit Global Logistics Inc. said a U.S. Bankruptcy Court in Newark, N.J., on Wednesday approved the sale of the company's assets and certain of Summit抯 subsidiaries to TriDec Acquisition Co. Inc., a company formed by certain founders of Summit抯 operating companies and members of senior management.

The logistics company filed for protection under Chapter 11 of the Federal Bankruptcy Code in January. 

Source: American Shipper