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Judge Gives Company Another 90 Days to File Proposal
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, bankruptcy advisers for the company told a judge June 3.
The proposal was made public during a bankruptcy court fight in Wilmington, Del., between company officials and a committee of lower-ranking creditors. Previously, the company had said it would likely liquidate the 125 properties it was unable to sell last year during a court-supervised auction.
