FW: Yellow’s Chapter 11 plan includes rights offering, REIT

FREIGHTWAVES reports:

A final Chapter 11 plan to liquidate Yellow’s remaining assets could include a reorganization wherein the defunct company’s major shareholders backstop a rights offering to stand up a subleasing or real estate investment trust to manage the remaining properties. The plan would include the payment of all allowed general unsecured claims, leaving the reorganized equity interests to shareholders, a Monday filing with a Delaware bankruptcy court showed.

However, that plan is contingent on Yellow (OTC: YELLQ) receiving a favorable ruling ...