Bankruptcy court in Delaware has approved plans for the auctioning of bankrupt less-than-truckload carrier Yellow Corp.'s rolling stock. Ritchie Bros. Auctioneers, IronPlanet Canada Ltd., and Nations Capital will handle the sale of Yellow's 12,700 tractors and 42,000 trailers. Yellow's fleet is of varying age and quality, with the newest stock acquired through a $700m loan from the US Department of the Treasury in 2020. The auction houses stand to earn commissions ranging from 9.25% to 15.5%, depending on the sale value. Bids for Yellow's non-trucking assets and terminals are due by 9 November.
Frequently Asked Questions
Q: What was approved by the bankruptcy court for Yellow Corp.?
A: The bankruptcy court approved the liquidation plan for trucks and trailers owned by Yellow Corp.
Q: Where did the bankruptcy court approve the liquidation plan for Yellow Corp.?
A: The bankruptcy court in Delaware approved the liquidation plan for Yellow Corp.
Q: What type of carrier is Yellow Corp.?
A: Yellow Corp. is a less-than-truckload (LTL) carrier.
Q: What is the status of Yellow Corp.?
A: Yellow Corp. has filed for bankruptcy.
Q: What is the timeline for the sale of Yellow Corp.'s assets?
A: The timeline for the sale of Yellow Corp.'s terminals, trucks, and trailers has been approved by the bankruptcy court.
Q: Did Yellow Corp. receive a loan to pay its debts?
A: There is information that Yellow Corp. might receive a loan from another trucking fleet to pay its debts, but it is not confirmed.
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