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Stock impact report

Yellow creditors' battle over $550M-plus carcass heats up [Yahoo! Finance]

ArcBest Corporation (ARCB) 
Last arcbest corporation earnings: 1/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: arcb.com/investor-relations
Company Research Source: Yahoo! Finance
The bankrupt less-than-truckload carrier's unsecured creditors told a federal bankruptcy court in Delaware on Monday that it would submit its own plan in the coming days. Counsel for Yellow ( OTC: YELLQ ) said it didn't have the votes to proceed on its previously proposed plan but that it was still hopeful the parties could come to terms. Yellow's largest shareholder, MFN Partners, which now owns two pension claims stemming from the company's abrupt withdrawal from the plans in 2023, and the Milbank Group, which represents six other multiemployer pension claimants, are the known holdouts. “Any plan that isn't supported by MFN and the Milbank Group is going to be hotly contested. It's going to be heavily litigated,” said Patrick Nash, partner at Kirkland & Ell Read more
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