Yellow | Yrcw trust funds

Deer Hunter

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They have to convince 26 trust funds to release their collateral of 35 mil.--The banks say it has to be all 26 or no deal.. Probably not going to happen.......
 
I think I know what he's talking about but it's not a condition for the refi that I've heard of before.
Some of the pension funds are holding the deeds to YRCW properties in lieu of payments from 09(?).
 
The Contribution Deferral Agreement is to be discussed on 1/22 not 1/23.......my bad...and it is what Wrench97 said, they hold the deeds to approx. 35mil..in real estate and the banks are demanding it to be released..It is just as important as the member vote on next weekend and everybody is over looking it........
 
Everybody has to start out with post # 1 don't they...........

Good first post DH. F the banks, they stole enough from the pension already. If that's a condition it sounds like the new proposal is worse than the one that was rejected. That would be totally unacceptable to me.
 
The Contribution Deferral Agreement is to be discussed on 1/22 not 1/23.......my bad...and it is what Wrench97 said, they hold the deeds to approx. 35mil..in real estate and the banks are demanding it to be released..It is just as important as the member vote on next weekend and everybody is over looking it........

I think the lenders are demanding that the funds extend their deferral agreements with the company as part of the refinancing agreement.
 
Why do I think this was part of the deal with the banks from the start(not part of the MOU since we can't authorize it's release), I seem to recall hearing something about the funds and this meeting back in December, but it got lost in the shuffle with the last proposal.
 
Why do I think this was part of the deal with the banks from the start(not part of the MOU since we can't authorize it's release), I seem to recall hearing something about the funds and this meeting back in December, but it got lost in the shuffle with the last proposal.

Careful now, the testicula gigantica crowd will be here shortly telling us what lies these are.
 
The press release of Dec23 was to amend or extend; since then however,they now want a total release of collateral or exchange for stock options.....neither of which should be done by any trustee ( union or management)!!!!
 
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