Yellow bankruptcy

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

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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

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