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Another 7 "Flex Intermodal lists assets up to $50k & liabilities btw $500k-$1M. The company, which has up to 49 creditors, maintains that no funds will be available for distribution to unsecured creditors after administrative fees paid" https://t.co/h8cf6XQdC8 ht @dailyjobcuts
Yellow Corp. and its hedge fund owners lost a key court ruling over $6.5 billion in debt that pension funds claim the defunct company owes them, likely wiping out most recovery for shareholders. https://t.co/qfIg8CuYW7
Bankrupt trucker Yellow and its hedge fund owners lost a key ruling over $6.5 billion in debt that pension funds claim the company owes them, likely wiping out most recovery for shareholders. https://t.co/2iRZH7tk19 via @markets
The National Highway Traffic Safety Administration (NHTSA) has announced recalls for 100,432 vehicles, including models from Volkswagen, Porsche, and Mazda. Additionally, Daimler Trucks North America LLC has filed a recall for 16,889 vehicles. The trucking industry also faces a significant liability ruling, with Daimler Truck North America hit by a $160 million verdict over a 2022 crash, which the company intends to appeal. In other industry news, Yellow Corp. and its hedge fund owners have lost a key court ruling over $6.5 billion in debt claimed by pension funds, likely wiping out most recovery for shareholders. The company must now devise a creditor repayment plan that includes these debts.
