The company that operates Yellow Cab in Chicago filed for bankruptcy protection early Wednesday, just hours after a Cook County jury awarded nearly $26 million to a local real estate executive who was severely brain damaged in a high-speed taxi crash in August 2005, The Chicago Tribune reported yesterday. The bankruptcy filing means that Marc M. Jacobs and his wife, Deborah, “may never see a dime,” said one of their lawyers. The legal turn of events occurred a few hours apart. First, a jury awarded $25.9 million to the couple Tuesday evening. Then, at 3:45 a.m. Wednesday, Yellow Cab Affiliation Inc. of Chicago filed for chapter 11. Yellow Cab said that the bankruptcy filing was a direct response to the jury verdict and listed Jacobs and his wife as among the company’s creditors. A lawyer for Yellow Cab said that its taxis would continue operating as usual while it seeks protection from creditors. Jacobs suffered severe and permanent brain damage following the crash and was unable to return to his level of work prior to the crash.
