Bankrupt trucker Yellow may start new REIT using empty terminals

The cargo hauler shut down and filed bankruptcy last year following a battle with the Teamsters union. — Bloomberg

NEW YORK: 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 tell a judge.

The proposal was made public during a bankruptcy court fight in Wilmington, Delaware, between company officials and a committee of lower-ranking creditors.