After many attempts by the company to stave it off, Insight Terminal Solutions (ITS) has been declared bankrupt in a Kentrucky court. ITS had been at the helm of the effort to store and transport coal through the old Oakland Army Base for years now.
John Siegel, CEO of the now bankrupt ITS, hoped to secure funding from various sources, including Utahs Throughout Infrastructure Fund, in order to retain control of the company and push for the coal port in Oakland. Thanks to the leadership of Utah activists and organizations in particular, this never came to be.
The bankruptcy court gave control of ITS over to lender and private equity firm Autumn Wind, which is based in Los Angeles. Although Autumn Wind has communicated no int…
Read the full article at: https://www.sierraclub.org/san-francisco-bay/blog/2020/12/company-pushing-coal-oakland-declared-bankrupt