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IN RE CANNON EXPRESS CORP.

No. 5:01-bk-80879.

280 B.R. 450 (2002)

In re CANNON EXPRESS CORPORATION, Debtor.

United States Bankruptcy Court, W.D. Arkansas, Fayetteville Division.

July 3, 2002.

Attorney(s) appearing for the Case

Donnie Rutledge, Springdale, AR, for Cannon Express Corporation.

Gary Barrett, Stuttgart, AR, for petitioning creditors.

MEMORANDUM OPINION

ROBERT F. FUSSELL, Bankruptcy Judge.

I. PROCEDURAL HISTORY

On May 22, 2001, Ed Bennett, Farish Kincaid, and Felix Pruss [Petitioners] filed an involuntary petition under chapter 7 of the bankruptcy code against Cannon Express Corporation [Cannon], a trucking company located in Northwest Arkansas. In their petition, Petitioners alleged total unsecured claims in the amount of $1,333,900.00.1 On June 13...

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