Yellow's Unsecured Creditors Growing Frustrated

Yellow's Unsecured Creditors Growing Frustrated

Yellow Corporation's bankruptcy proceedings continue to progress slowly, according to creditors. Despite a third 90-day extension granted in June, the company's advisors have yet to outline a comprehensive plan for liquidating remaining assets. Creditors express growing concern over accruing professional fees without corresponding progress. 

They argue that the company's focus on maximizing returns for shareholders may be jeopardizing recoveries for creditors and other stakeholders. Meanwhile, the company maintains that it is diligently working to sell assets and address outstanding claims, including a significant legal dispute with the Teamsters union. The bankruptcy court is expected to soon issue rulings on several major liability claims against the estate.

Source: FreightWaves