Teamsters Plan Protest, Call on YRC Bond Exchange Holdouts to Convert

December 29, 2009: The Teamsters Union is calling on the small number of bondholders that are standing in the way of YRC Worldwide Inc.'s financial restructuring to take part in debt-to-equity exchange.

The union believes that hedge funds Brigade Capital Management and JMB Capital Partners, and banks including UBS, Barclays and TD Bank, hold positions and have not tendered. The union will protest Wednesday at the headquarters of Brigade Capital Management in New York to urge the hedge fund to exchange or sell.

Read the full Teamster press release at StreetInsider.com.

Get Advice Join TDU Donate

Recent News

Zoom Call for IBT Election Volunteers on Saturday, August 14

TDU will hold a national zoom call on Saturday, Aug. 14 for Teamsters who are volunteering to elect the O’Brien-Zuckerman Teamsters United Slate. Join candidates, campaign coordinators and Teamster activists for an update and to make plans to Get Out the Vote and win this fall. Click here to register. 

Central States Assets Fall – But Relief is Coming!

The assets of the Central States Pension Fund fell to $9.8 billion at the end of March, a drop of $573 million in the first quarter.  The fund projects forward that it will pay $2.83 billion in pension benefits this year, while taking in $651 million in employer contributions.

View More News Posts