Yellow bankruptcy

XPO relaunches next wave of Yellow terminals

Less-than-truckload carrier XPO announced Tuesday the opening of three additional service centers, which are part of the 28 it previously acquired for $870 million from bankrupt Yellow Corp.’s estate.

XPO (NYSE: XPO) said it’s adding a 36,000-square-foot terminal in Las Vegas to grow its trade show shipping capabilities. The location is XPO’s second in that market and will provide trade show customers with five days of free storage.

The carrier also said Tuesday it has opened a 20,000-square-foot...

https://www.freightwaves.com/news/xpo-relaunches-next-wave-of-yellow-terminals

Estes to open at least 20 terminals this year

Less-than-truckload carrier Estes said Monday it will start opening terminals it has acquired from defunct Yellow Corp. as part of a “national expansion.”

The carrier acquired 24 service centers for $249 million at Yellow’s (OTC: YELLQ) first auction, which concluded in early December. It picked up five leased properties for $35 million at a second auction a couple of weeks later.

A more than $1.5 billion stalking horse bid from the company in September set the minimum valuation for Yellow’s real...

https://www.freightwaves.com/news/estes-to-open-at-least-20-terminals-this-year

WARN Act claims against Yellow may not be settled this year

Claims that defunct less-than-truckload carrier Yellow Corp. failed to provide appropriate notification to employees ahead of mass layoffs last summer may not be resolved until later this year, a Thursday hearing in a Delaware bankruptcy court revealed.

Judge Craig Goldblatt proposed a timeline that allows for fact discovery through mid-August, with summary judgment motions likely being filed in October. If needed, a trial could occur in December at the earliest. Counsel from all parties...

https://www.freightwaves.com/news/warn-act-claims-against-yellow-may-not-be-settled-this-year

Saia starts opening new terminals

Less-than-truckload carrier Saia announced Monday the opening of two new terminals, which is part of a previously disclosed $1 billion capital plan for 2024.

The new locations are in Garland, Texas, and Missoula, Montana. The Garland location will be the company’s fourth terminal in the Dallas-Fort Worth market, while the Missoula site will be its first in that state.

The carrier previously acquired 28 service centers valued at $244 million in a pair of auctions of defunct Yellow Corp.’s (OTC:...

https://www.freightwaves.com/news/saia-starts-opening-new-terminals

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

A Delaware bankruptcy court ruled Wednesday that approximately $7.8 billion in pension withdrawal liability claims against bankrupt less-than-truckload carrier Yellow’s estate will remain under its jurisdiction and not be decided by arbitrators as numerous pension funds had sought.

The court denied motions from the multiemployer pension plans (MEPPs) to which Yellow (OTC: YELLQ) contributed on behalf of its union employees. The motions sought to either compel arbitration or grant relief from an...

https://www.freightwaves.com/news/yellow-gets-favored-venue-for-hearing-on-7-8b-in-pension-liability-claims

Court dismisses Yellow’s $137M lawsuit against Teamsters

A federal court in Kansas has dismissed defunct Yellow Corp.’s $137 million breach-of-contract lawsuit against the Teamsters union and its negotiating arm. The court cited the company’s failure to exhaust the grievance process established under its collective bargaining agreement with the union as the reason for closing the case.

“The Court is guided by the language of the NMFA [National Master Freight Agreement]. Article 8, Section 1(a) is clear that ‘all’ factual grievances, or questions of...

https://www.freightwaves.com/news/court-dismisses-yellows-137m-lawsuit-against-teamsters

Yellow asks court to toss claims it failed to give layoff notifications

Yellow’s Tuesday filing in a Delaware bankruptcy court said claims stemming from its failure to provide 60-day notices to employees ahead of mass layoffs should be thrown out, or at least materially reduced.

Counsel for the company said WARN Act requirements don’t apply as the defunct less-than-truckload carrier’s shutdown was abrupt and the result of the Teamsters union’s refusal to allow a second round of operational changes that were integral to its survival.

The turnaround plan dubbed One...

https://www.freightwaves.com/news/yellow-asks-bankruptcy-court-to-toss-layoff-notification-claims

Pension liability claims against Yellow may take months to settle

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-6’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-6’); });

The venue for deciding the fate of $7.2 billion in pension withdrawal liability claims against...

https://www.freightwaves.com/news/pension-liability-claims-against-yellow-may-take-months-to-settle

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.