bankruptcy case

Pension tussle taking center stage in Yellow bankruptcy

Yellow Corp.’s bankruptcy case is progressing on several fronts—but not yet on the one with the biggest dollar amounts at play.

In recent weeks, Yellow attorneys exchanged filings with their peers at the Central States Pension Fund and the federal Pension Benefit Guaranty Corp. in U.S. Bankruptcy Court for the District of Delaware about how to resolve the question of the company’s remaining pension obligations. Yellow, which was the sixth-ranked carrier on the 2023 FleetOwner 500: For Hire list before it shut down in July, claimed in December that the PBGC’s early-2023 bailout of Central States meant the pension plan couldn’t then also claim billions from Yellow.

International Brotherhood of Teamsters-affiliated Central States asked Yellow last summer to cover nearly $5 billion in withdrawal liabilities (the company’s alleged share of unfunded benefits) and another $900 million in so-called participation guarantees. Yellow called those claims an attempt to collect “hundreds of millions of dollars in damages it has not sustained” and said pension officials were asking for “free money.”

Lawyers for Central States responded in early January not by directly addressing the legal merits of their claim but by saying that various federal courts have held that a dispute over pension

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January 25, 2024 by ATTORNEY

5 ‘must-haves’ to finding a bankruptcy lawyer

5 ‘must-haves’ to finding a bankruptcy lawyer

Key takeaways

  • When seeking a lawyer to guide you through the bankruptcy process, it is crucial to choose a specialist in bankruptcy law.

  • Opt for a bankruptcy attorney with local expertise, well-versed in both bankruptcy laws and the specific procedures of the local court where your case will be filed.

  • Choose a bankruptcy attorney who provides personalized service, listens to your specific case details and makes you feel comfortable.

  • Avoid ‘bankruptcy mills’ and non-attorney petition preparers and prioritize a lawyer who understands your situation.

If you are considering filing for bankruptcy, your best bet for a successful outcome is to choose a good bankruptcy lawyer. Although it is possible to file for bankruptcy on your own without hiring an attorney, it is not advisable to do so. Obtaining the help of a specialist who is experienced and can offer expertise in both federal and local law is essential, as they will be able to provide you with personalized service for your case and provide the comfort and familiarity needed to get through this challenging process.

1. Look for a specialist

Lawyers practice in multiple areas and your best bet would be to go with someone who specializes in bankruptcy

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December 1, 2023 by ATTORNEY

Five questions ahead of decisive Yellow bankruptcy hearing

Executives, attorneys, creditors, and many others invested in the wind-down of Yellow Corp. will gather Sept. 15 for a key hearing in U.S. Bankruptcy Court in Delaware that should answer several questions about how the shuttered carrier’s case and auctions of substantial assets will proceed in the coming weeks.

The hearing could add clarity to some important questions in Yellow’s filing and perhaps reveal bidders who haven’t yet gone public with their interest in what remains of the almost 100-year-old company.

Here’s the latest on the Chapter 11 case for what was, until last month, the No. 6 carrier on the 2023 for-hire FleetOwner 500:

  • The Sept. 15 hearing is slated to cover a lot of ground. Among the most important items before Judge Craig T. Goldblatt is final approval of the $142 million in debtor-in-possession (DIP) financing Yellow has secured from hedge funds Citadel and MFN Partners (the latter being Yellow’s largest shareholder, having amassed a 42% stake this summer) as well as the procedures that will govern the auction of the defunct company’s assets planned for next month.
  • Also on the provisional agenda is finalization of a motion, preliminarily approved by Goldblatt on Sept. 8, to make about
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September 19, 2023 by ATTORNEY

Bankruptcy Clinic Students Save Legacy in Decade-Long Advocacy

The Eleanor R. Cristol and Judge A. Jay Cristol Bankruptcy Pro Bono Assistance Clinic at Miami Law offers pro bono legal services to low-income individuals who are dealing with bankruptcy.




Since 1995, the University of Miami School of Law’s bankruptcy clinic has given current Hurricane law students the opportunity to deliver life-changing pro bono legal services to indigent clients throughout South Florida.

Bankruptcy attorney Patricia “Trish” Redmond founded the clinic at the school where she still serves as an adjunct professor. A 2019 Tobias Simon Pro Bono Award Winner and shareholder at Stearns Weaver Miller, Redmond devotes between 200-400 hours every year to her pro bono work, which benefits thousands of underprivileged and low-income individuals, children, and families.

Bankruptcy cases are far from easy. A simple Chapter 7 can last up to six months while a more complex Chapter 13 can take up to five years, which makes the case Redmond and her team just completed all the more shocking.

“This case came to the clinic around 2010,” Redmond said. “Thirteen years’ worth of law students worked on this case.”

As Redmond explained, the debtor, a construction worker on dialysis, had lost his home in a Chapter 13 bankruptcy case.

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June 4, 2023 by ATTORNEY

MLB to ‘step in’ if Diamonds Sports bankruptcy shuts down Brewers telecasts

MILWAUKEE — Major League Baseball (MLB) commissioner Rob Manfred said MLB will step in if Diamond Sports stops paying teams rights fees for the Brewers telecasts due to its bankruptcy case, according to our partners at the Milwaukee Business Journal.

Diamond Sports Group, the company that broadcasts Milwaukee Bucks and Milwaukee Brewers games, filed for U.S. bankruptcy protection in March. The Sinclair Broadcast Group subsidiary operates “Bally Sports” and provides local television broadcasts for almost half of NBA, NHL, and MLB games.

According to BizJournal, Manfred said during a press conference at American Family Field last week, “I’m concerned about the RSN situation. We have 14 teams including the Brewers involved in the Diamond bankruptcy.”

Manfred said he hopes Diamond decides to live up to its “contractual obligation” and broadcast the games, “But if they don’t, we will step in and the games will be available both linear (cable) and digital.”

The BizJournal reports that the Brewers have retained attorneys in the bankruptcy case. The case is proceeding in U.S. Bankruptcy Court in Texas.

As TMJ4 News previously reported, in its Chapter 11 petition, Diamond Sports listed assets and liabilities between $1 billion and $10 billion each. Diamond

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June 1, 2023 by ATTORNEY
December 2024
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