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Taxi Titan Cullan F. Meathe And Yellow Cab Service Corporation Of Florida, Inc. Resolve $43 Million Litigation; All Claims Dismissed

CHICAGO, Sept. 16 /PRNewswire/ -- Yesterday, the Federal District Court for the Northern District of Illinois issued an order approving a settlement agreement that resolves all claims arising out of a $43 million dollar lawsuit against Cullan F. Meathe and Yellow Cab Service Corporation of Florida Inc. with their senior lender (Bank of Montreal) and two other syndicate banks (Fifth Third Bank and First of Michigan, formerly known as Citizens First Bank of Port Huron).

"I am extremely pleased to have this matter amicably resolved. After a two-and-a-half year business challenge, this legal matter is behind me and I can now fully focus on my business interests.  Finally, I would like to thank my wife, family, new management team, my attorneys and professional advisors, for their loyalty, advice and support. Today is a glorious day," said Cullan F. Meathe.

SOURCE Yellow Cab Service Corporation of Florida, Inc.

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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