Yellow, MFN Lose Appeal to Overturn Pension Liability Ruling (2)

Yellow Corp. and its largest shareholder failed to convince the Third Circuit to overturn a bankruptcy court ruling on pension withdrawal liability in a dispute over potentially billions of dollars.

The US Court of Appeals for the Third Circuit affirmed the bankruptcy court’s order and held Yellow must pay the higher withdrawal liability contracted for with the New York and Western Pennsylvania Teamsters Funds, Judge Thomas L. Ambro wrote in the opinion.

MFN Partners LP said during a June hearing that the underlying ruling could improperly result in billions of dollars for the pension plans.

“Yellow offers no good ...