Flex Intermodal Inc., a California-based trucking company that previously transported intermodal containers from the Port of Oakland, has filed for Chapter 7 bankruptcy liquidation. At the time of its closure, the Fremont-based company operated with 25 power units and employed 30 drivers, as reported by the Federal Motor Carrier Safety Administration’s SAFER website.
The bankruptcy petition identifies Aseem Indora as the president of Flex Intermodal; however, the reasons for the Chapter 7 filing were not disclosed. The company is being represented by bankruptcy attorney Raymond R. Miller from Hayward, California. As of Monday afternoon, neither Indora nor Miller had responded to requests for comment regarding the situation.
Flex Intermodal submitted its petition to the U.S. Bankruptcy Court for the Northern District of California last Friday, over a year after halting its operations. The FMCSA indicates that the company’s operating authority was involuntarily revoked in August 2023, coinciding with the cancellation of its Bodily Injury Property Damage Coverage (BIPD) insurance. Flex Intermodal had been granted operating authority by FMCSA in September 2018.
In the bankruptcy filing, Flex Intermodal reported assets valued at up to $50,000 and liabilities estimated between $500,000 and $1 million. The company has approximately 49 creditors and claims that there will be no funds available for distribution to unsecured creditors after administrative fees are settled.
Among its primary unsecured creditors are the IRS in Philadelphia, which is owed nearly $38,200; California’s Employment Development Department, owed over $31,300; and the Alameda County Tax Collector, owed approximately $2,210. The largest non-priority unsecured creditor is the U.S. Small Business Administration’s Office of General Counsel in Los Angeles, with a claim of nearly $2.8 million. Additional notable debts include almost $213,000 owed to Hemar Rousso & Heald LLP of Encino, California, and more than $210,000 owed to Balboa Capital of Costa Mesa, California.
The filing also indicates that Flex Intermodal disputes owing the Port of Oakland more than $108,000 for an unexpired lease. Before ceasing operations, the company’s trucks underwent 38 inspections, with 11 being placed out of service, resulting in an out-of-service rate of 29% over the last 24 months—well above the national average of approximately 22.6%, according to FMCSA. In contrast, the company’s drivers were inspected 56 times, with only one placed out of service, yielding a 1.8% out-of-service rate, significantly lower than the national average of around 6.7%.
In 2023, the company reported gross revenues nearing $1.2 million, while its revenue for 2022 was about $1.9 million. The petition also reveals that Indora serves as the CEO and CFO of another small intermodal carrier, RL Lines Inc. of Newark, California, which ceased operations in May. RL Lines had four power units and the same number of drivers, and it too was involved in hauling intermodal containers. Although the FMCSA granted RL Lines’ common carrier authority in June 2022, the company faced temporary revocations of its operating authority before it was ultimately revoked in May.
The bankruptcy petition notes that civil judgments have been entered against Flex Intermodal by four companies in California: Equify Intermodal Inc. and Flexi Van Leasing Inc. in Alameda County Superior Court, and Balboa Capital and Equify Financial in Orange County Superior Court. A meeting of creditors is scheduled for October 23.
