Yellow Shareholder Appeals Pension Settlements: Delaware Brief

Yellow Shareholder Appeals Pension Deals

Photographer: David Paul Morris/Bloomberg

MFN Partners, the largest shareholder of Yellow, appealed bankruptcy court-approved pension plan settlements that resolved yearslong withdrawal liability disputes, Angélica Serrano-Román reports.

The hedge fund seeks review of Delaware bankruptcy Judge Craig T. Goldblatt’s April orders authorizing the deals between the fallen trucker and the pension plans, including Central States, Mid-Jersey Trucking Industry, and Teamsters Local 701, according to notices filed Monday.

The deals, worth more than $1 billion, resolve the pension plans’ claims that initially totaled more than $7.4 billion, nearly all of which constituted withdrawal liability. Those claims had been significantly reduced under ...