FW: Yellow shareholders get desired ruling in Delaware bankruptcy court

FREIGHTWAVES reports:

A Delaware bankruptcy court ruled Monday to give Yellow Corp. more time to exclusively oversee its liquidation. A 90-day extension keeps other financial firms from putting forward competing plans for unwinding the estate. Counsel for Yellow argued that other interested parties may have sought an expedited disposal of its remaining assets, resulting in lower proceeds and severely diminishing the chances of any monetary recovery for equity holders.

Testimony from Matt Doheny, former Yellow chairman and the company’s current ...