A hedge fund with an integral role in Yellow Corp.’s bankruptcy proceedings is pushing for shareholders to have a bigger say in the company’s upcoming liquidation. MFN Partners, which amassed a more than 40% stake in the now-defunct less-than-truckload carrier during July, sent a letter to the company urging several changes.
The firm said it has proposed a candidate to fill one of two board seats that were vacated the day Yellow filed for bankruptcy. The individual was not named. MFN said the...
https://www.freightwaves.com/news/mfn-partners-trying-to-protect-equity-investment-in-yellow