On July 10, 2025, GSC Enterprises, Inc., GSC Logistics, Inc., Best Way Trucking, Inc., GSC National Transportation, Inc., GSC Solutions, Inc., GSC Transport, Inc. MacMillan-Piper LLC, Tacoma Transload LLC, GSC Logistics Norcal Brokerage, Inc., and GSC Logistics PNW Brokerage, Inc (the “Companies”) ceased operations and terminated all employees.

On July 15, 2025, the United States District Court for the Northern District of Illinois appointed a limited receiver (the “Receiver”) for the Companies in the action entitled SG Stonegate Asset Company I, LLC v. GSC Enterprises, Inc., et al., Case No. 25-cv-07909.
On July 31, 2025, the United States District Court for the Northern District of Illinois approved the Amended Order Appointing Receiver (the “Amended Order”) in the action entitled SG Stonegate Asset Company I, LLC v. GSC Enterprises, Inc., et al., Case No. 25-cv-07909. A copy is attached.

A federal receivership is an equitable proceeding in a United States District Court. The Receiver is an agent of the Court appointed to administer and liquidate the assets of the Companies. The Receiver does not represent the Companies or their principals, and has been appointed as a neutral, impartial third-party.

Since his appointment, the Receiver has been working diligently to secure the Companies’ property, restore access to the Companies’ computer systems, and communicate with former employees, vendors, and customers. The Receiver is also working to account for all inventory, return freight to customers, and sell assets in order to maximize recoveries for the benefit of the Companies’ creditors.

As explained in the Amended Order, all persons are prohibited from, among other things, interfering with or hindering in any way the Receiver in the performance of his duties or interfering with or hindering the Receiver’s access to the Companies’ property.
Except by leave of the United States District Court for the Northern District of Illinois, Defendants and all persons receiving notice of this Amended Order by personal service, facsimile, email or otherwise, are enjoined, restrained, stayed, and prohibited from:

a. interfering in any way with the Receiver’s access, control, possession, management, or sale of any portion of the Receivership Property, or to in any way interfere with Defendants or Receiver (including any act that interferes with the corporate governance rights of Defendants), or to interfere in any manner with the exclusive jurisdiction of the Court over the Receivership Property;

b. taking or causing to be taken any action that would diminish or impair the value of the Receivership Property;

c. interfering with or hindering in any way whatsoever the Receiver in the performance of the Receiver’s duties herein described and in the performance of any duties incidental to those duties;

d. withdrawing, transferring, conveying, concealing, or otherwise disposing of any assets owned by the Defendants or relating to the Receivership Property;

e. removing any assets and from destroying, concealing, copying, altering, or transferring any asset, including any books and records relating to the asses owned by the Defendants;

f. transferring, conveying, assigning, pledging, deeding selling, renting, leasing, encumbering, liening, changing ownership of, vesting of title to, or otherwise disposing of the Receivership Property or any of the other assets owned by the Defendants;

g. commencing, prosecuting, continuing, or enforcing any suit or proceeding, including any bankruptcy cases, against or affecting Defendant or any part of the Receivership Property, except that such actions may be filed to toll any statutes of limitations;

h. using self-help or executing or issuing or causing the execution or issuance of any court attachment, subpoena, replevin, execution, or other process for the purpose of impounding or taking possession of or interfering with or creating or enforcing a lien upon any portion of the Receivership Property, including, without limitation, any property owned by or in the possession of Defendants or Receiver, wherever situated; and

i. attempting to modify, cancel, terminate, call, extinguish, revoke, or accelerate the obligations of any lease, loan, mortgage, indebtedness, security agreement or other agreement with Receivership Parties, or any entity controlled by Defendants, or otherwise affecting the Receivership Property;

Any sale of assets outside the ordinary course of business, approval of creditors’ claims and/or any distribution to creditors is subject to Court approval after notice and an opportunity for hearing to creditors and other parties in interest.

In the next few weeks, the Receiver will be requesting that the Court establish a claims process for all employees and other creditors to assert claims and causes of action against the Companies. You will receive a more formal notice explaining the process and deadlines for filing claims after it is approved by the Court.

The Receiver looks forward to resolving these matters in an orderly and expeditious fashion. Thank you in advance for your patience as we proceed through this Court-ordered process.