The most current article I just read was 7/20/23 & said it was not paid up to that date….
Yellow | Woah not so fast investors, docket #1833
- Thread starter ABF381
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Little bit newer...
Yellow's Demise Won't Sink Central States, Due to US Bailout (1)
The Biden administration’s multiemployer retirement plan bailout program will protect the nation’s largest pension from being dragged under by trucking giant Yellow Corp.'s impending demise.
Ok... I'll ask a different way... Because I am not no expert on any of this. You can call me a dumb azz if you want.Where do you folks come with this idea that investors are somehow going to profit at the expense of the workers? Isn't it a fact that any worker at any time could have purchased Yellow shares and become an "investor" and also be able to share in the huge "profits" you talk about?
Let's say after the sale.... I'm just using numbers... Not accurate numbers....
They get 4 billion dollars from the liquidation..... To pay off the debts 3 billion dollars cover it .
So where does the remaining 1 billion dollars go?
I'm just asking because I m just a truck driver and not a financial wizard.
As far as I know, and that may not turn out to be very far; after ALL the debts are satisfied there is no court mandate to continue liquidating assets under the CH. 11 bankruptcy court proceedings.
50ish million shares of Yell.Q out there. If there was an excess of $1B, that's about 5x the current market cap. Shares are trading at about $4/share today. Feel free to buy as many as you wish if you think the investors/shareholders stand to make a buttload when the dust settles.
So Yellow didn’t pay….Little bit newer...
Yellow's Demise Won't Sink Central States, Due to US Bailout (1)
The Biden administration’s multiemployer retirement plan bailout program will protect the nation’s largest pension from being dragged under by trucking giant Yellow Corp.'s impending demise.news.bloomberglaw.com
So what will happen to the remaining property..... It has a dollar value amount?
I'm just trying to learn.
I don't understand.
It belongs to YRC. All free and clear with no outstanding debts. They can do with it what they wish. CH.11 isn't CH.7. Maybe they become landlords instead of a trucking company.
I don't think there will be much left when all the dust settles. Everybody (secured and unsecured creditors) would have to be paid in full as well as every cent of legal costs. The longer this drags on the higher those legal costs are going to be.
I really don't know the answer to that, if they did pay that after the closure or if it's a claim in the bankruptcy court.
Ok ...
The agreement was for the company to one day pay the -75% contributions back someday.The pension fund received the payments contractually agreed to by the membership. Woulda, shoulda, coulda doesn't factor in at all. What does your crtystal ball say the winning lottery numbers are this week?
We'll have to wait and see if the bankruptcy court sees it that way.
I'm not claiming that I know how this bankruptcy is working .So what, that hasn't stopped others from offering financial advice here.
I'm asking questions about it.
I'm not sure anyone who posts here has a clue of what is going on.
I guess it's based on interpretation and how you interpret what's going on
Real Teamster
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True. The bigger problem is: the lawyers really have no incentive to wrap this up. They're billing the big bucks and they get paid first. I agree with you that when the dust settles, there isn't likely to be much (if anything) left.
We're all just waiting to see how it all plays out Stimp, no problem at all asking a question.
PS - If I don't have the answer I'll always try to make something up that sounds good!
You're just like my doctor. If I can't afford the operation, he'll touch up my x-rays.We're all just waiting to see how it all plays out Stimp, no problem at all asking a question.
PS - If I don't have the answer I'll always try to make something up that sounds good!
Yep. Don't know the workable solution to that. I wonder how much "control" the BK judge has over the various firms' billable hours or rates for their services? I have seen a docket or two where there was some legal proceeding approving legal fees, which leads me to believe there is at least the option to reject said fees. Doubtful that happens very often.
My guess is, a bunch of thieving!!!! Any time theirs a pot of money (social security/pension funds) crooks are near by.
crazysandy
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Any news on the rest of the real estate?
No it was not agreed to pay back , it was agreed to 75% reduction that was voted on
