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Bankrupt carrier Yellow Corp. and its hedge fund owners lost a court ruling over $6.5 billion in debt that pension funds claim the defunct company owes them.

The administrators are disputing the size of withdrawal liability claims from Central States Pension Fund and other multiemployer pension funds.

Defunct cargo hauler Yellow Corp. may put its remaining cargo terminals and other vacant properties into a real estate investment trust that could be used to raise money for creditors.

The auction of Yellow's assets is continuing as sales of the bankrupt carrier's terminals are funding debt repayments. 

Yellow repaid a $700 million loan it received from the Treasury Department through the Coronavirus Aid, Relief and Economic Security Act, the bankrupt less-than-truckload carrier said.

A Delaware court approved the sale of 128 freight terminals owned by bankrupt less-than-truckload carrier Yellow Corp., according to an audio recording of a Dec. 12 hearing.

Next Century Logistics submitted a second bid for Yellow Corp. assets Dec. 7 after an initial offer to reanimate the bankrupt carrier was turned down by the administrators of Yellow’s assets.

A court on Oct. 27 approved plans by the administrators of Yellow to use auctioneers to sell the company’s rolling stock, as Jack Cooper Transport eyes a bid to rescue the motor carrier.

Yellow Corp. has rescheduled the bid deadline for its fleet of trucks and trailers, according to court documents related to the shuttered carrier’s ongoing bankruptcy proceedings.

A bankruptcy court on Sept. 15 approved a timeline for the sale of shuttered less-than-truckload carrier Yellow Corp.’s terminals, trucks and trailers, making some key dates public for the first time.