Reuters: YRC again extends equity offer, cites progress

December 29, 2009: Troubled U.S. trucker YRC Worldwide said it was again extending a crucial debt-for-equity offer that it needs to stay afloat and was working to convince bondholders to participate.

The company said early Tuesday 81 percent of the company's outstanding notes totaling $536.8 million had been tendered for an exchange for equity, up from about 80 percent a week ago, but still shy of a needed threshold.

Click here to read the complete article from Reuters.

Get Advice Join TDU Donate

Recent News

Online Workshop: The Legal Rights of Union Stewards

We will post a video of the 9/24 Legal Rights of Union Stewards workshop with Labor attorney Dave Suetholz on tdu.org, YouTube, and Facebook. Workshop slides and resources for grievance investigation are posted here. 

Important Update on Yellow Corp Bankruptcy

As Yellow Corporation moves to liquidate its assets, the IBT is fighting for former Yellow Teamsters in court to recover vacation pay, grievance settlements, and other monetary claims. Teamster benefit funds are also demanding full payment. 

View More News Posts