From Yahoo Finance: 2025-04-01 13:21:00

Yellow’s bankruptcy plan progresses with an amended Chapter 11 filing, supported by creditors but lacking shareholder approval. The plan aims to reduce pension fund claims to 12-17% recovery, totaling $3.3 billion. $30-40 million set aside for employee claims. Court vote scheduled for May, marking 20 months of Yellow’s bankruptcy journey.

Hedge fund MFN Partners disputes Yellow’s bankruptcy plan, threatening consensus. Yellow defends plan in court, emphasizing the need for settlements. Ruling delay allows negotiation between parties. Liquidating trust established to wind down Yellow’s assets, terminating leases in California. Yellow’s estate recoups $55 million from terminated Bloomington site.

Yellow’s liquidation continues, selling terminals to Knight-Swift, TFI International, A. Duie Pyle, Estes Express Lines, R+L Carriers, and ABF Freight. Over 175 terminals sold for $2.2 billion, with 89 remaining under estate. Auction process for remaining terminals delayed, private sales ongoing.

Read more: Yellow, Creditors Agree on Bankruptcy Plan, Key Shareholder Holds Out