Yellow Strikes Tentative Plan with Creditors on Bankruptcy Exit

Yellow said it’s reached a consensus with nearly all of its largest unsecured creditors on a joint plan to wrap up the former trucking giant’s contentious bankruptcy, though it doesn’t yet have support from the company’s biggest shareholder.

A bankruptcy plan incorporating a settlement with a large swath of unsecured creditors could be filed by the end of the week, Yellow bankruptcy attorney Allyson B. Smith of Kirkland & Ellis LLP said during a hearing Wednesday in the US Bankruptcy Court for the District of Delaware.

The tentative deal comes after Yellow’s unsecured creditors pitched to the defunct company their ...