Laidlaw Inc Files Bankruptcy Petitions

Laidlaw Inc announced that as part of its financial restructuring, the company and five of its subsidiary holding companies — Laidlaw Investments Ltd, Laidlaw International Finance Corp, Laidlaw One Inc, Laidlaw Transportation Inc, and Laidlaw USA Inc — have filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the US Bankruptcy Court for the Western District of New York. As part of the US filings, the company filed its plan of reorganization, disclosure statement, and ancillary exhibits. The company and Laidlaw Investments Ltd also filed cases under the Canada Companies' Creditors Arrangement Act (CCAA) in the Ontario Superior Court of Justice in Toronto, Ontario. None of the company's operating units are included in the filings; they will continue to carry on their businesses as usual.