Yellow | In Pyrrhic victory, Teamsters win as judge tosses Yellow’s $137 million lawsuit

[Freightmaster1]

In Pyrrhic victory, Teamsters win as judge tosses Yellow’s $137 million lawsuit

The International Brotherhood of Teamsters has won what the union calls “a major victory” in a breach of contract lawsuit against Yellow Corp. Unfortunately for about 24,000 Teamsters who lost their jobs when Yellow ceased operations last August, the victory arrives about nine months too late.

www.logisticsmgmt.com

 

[Cab Lizzard]

Great NEWS.

 

[Jaloc]

"Meanwhile, Yellow’s bankruptcy estate has benefited from more than $2 billion in gains from the sale of more than 50 company terminals that Yellow had owned. In addition, there is an ongoing auction of its rolling stock. That auction, run by Ritchie Bros., involves more than 6,000 pieces of equipment and could net Yellow’s estate by another $1 billion or so."

The company wasn't bankrupt the properties and equipment could have been used as collateral to refinance.

 

[Triplex]

"Meanwhile, Yellow’s bankruptcy estate has benefited from more than $2 billion in gains from the sale of more than 50 company terminals that Yellow had owned. In addition, there is an ongoing auction of its rolling stock. That auction, run by Ritchie Bros., involves more than 6,000 pieces of equipment and could net Yellow’s estate by another $1 billion or so."

The company wasn't bankrupt the properties and equipment could have been used as collateral to refinance.

The company was never bankrupt. They had a cash flow problem. It's like someone having large equity in their home but not having cash available for everyday expenses.

 

[BIG R GUY]

Yellow gets favored venue for hearing on $7.8B in pension liability claims

A Delaware bankruptcy court overseeing Yellow’s liquidation said Wednesday it will hear the case regarding nearly $8 billion in pension withdrawal liability claims against the estate.

www.freightwaves.com

 

[Jaloc]

Yellow gets favored venue for hearing on $7.8B in pension liability claims

A Delaware bankruptcy court overseeing Yellow’s liquidation said Wednesday it will hear the case regarding nearly $8 billion in pension withdrawal liability claims against the estate.

www.freightwaves.com

Judge Craig Goldblatt’s decision will be pennies on the dollar!

 

[Teamsta II]

"Meanwhile, Yellow’s bankruptcy estate has benefited from more than $2 billion in gains from the sale of more than 50 company terminals that Yellow had owned. In addition, there is an ongoing auction of its rolling stock. That auction, run by Ritchie Bros., involves more than 6,000 pieces of equipment and could net Yellow’s estate by another $1 billion or so."

The company wasn't bankrupt the properties and equipment could have been used as collateral to refinance.

The were bankrupt. The money will go back to pay the debt .

 

[Triplex]

The were bankrupt. The money will go back to pay the debt .

At risk of repeating myself...
The company was never bankrupt. They had a cash flow problem. It's like someone having large equity in their home but not having cash available for everyday expenses.

 

[BIG R GUY]

"Meanwhile, Yellow’s bankruptcy estate has benefited from more than $2 billion in gains from the sale of more than 50 company terminals that Yellow had owned. In addition, there is an ongoing auction of its rolling stock. That auction, run by Ritchie Bros., involves more than 6,000 pieces of equipment and could net Yellow’s estate by another $1 billion or so."

The company wasn't bankrupt the properties and equipment could have been used as collateral to refinance.

Yeah, Wayne. These tractors will bring a good price.