10/16/2023- Yellow Extends Bid Deadline for Trucks, Trailers, Auction Date Also Delayed, Not Rescheduled Yet
9/20/2023 - Yellow/YRC Employee Vacation Hours
Teamsters Local 492 has received a spread sheet listing all vacation hours both owed from last year and pro rata to the date of closing. I have no way to know if the numbers are accurate, due to the fact that we do not have your hours here at the local. I have checked with a few members to verify if these numbers are close to what they believed was owed to them and all have been in agreement with the companies' figures. If anyone wishes to check their numbers, please contact me by Monday September 25th. I will be submitting these numbers to the bankruptcy court at that time.
9/15/2023- Yellow Corporation Bankruptcy Update and Proof of Claims Process Update
A grievance has been filed for ALL members at Yellow in New Mexico. The grievance covers all vacation hours earned and unused and pro rata, vacation earned from seniority date to closing. This grievance was heard at the September session of MSC. The ruling was that all vacation grievances were to be forwarded to the bankruptcy court and would be paid out through that process. The International (IBT) has everyone's information and that was also submitted to the bankruptcy court. If you have any questions, you can reach out to me. Click Here To Fill Out A Form To Submit any claims that you believe you may have, including vacation claims, directly to the Law Firm handling these claims in bankruptcy court on behalf of the Teamsters.
To Read More About This Process, See The Message Below From The IBT:
Yellow Corporation Bankruptcy Update and Proof of Claims Process
I. YELLOW CORPORATION BANKRUPTCY UPDATE
Yellow Corporation and its operating companies filed for bankruptcy in the District of Delaware Bankruptcy Court on August 6, 2023. The International Union and TNFINC (the “Union”) have entered an appearance in the case on behalf of Local Teamster Unions whose members hold claims against Yellow. Health and Welfare and Pension Funds have entered their own appearances in the case and represent claims for unpaid pension, health and welfare fund contributions.
The Union (IBT) has been appointed to the unsecured creditors’ committee along with eight other entities holding large unsecured claims. In that role, the Union represents the interests of all general unsecured creditors as a check and balance to the actions of the Debtor in the bankruptcy.
Yellow Corporation has begun the process of selling off its assets to gain cash to pay its debts. The sale process can be either a “going-concern sale” or a liquidation. A going concern sale would mean that a buyer seeks to run its acquired trucking properties and assets as a trucking company. While a going concern sale is still possible, Yellow has stated its expectation that this will be a liquidation process. The Union prefers that the sale process result in an entity acquiring Yellow assets to operate a trucking company as a going concern.
While the Union will seek to obtain a settlement/payment of the debts/obligations owed to its members, please note that the bankruptcy process can be a lengthy one. Once sales are complete, the Debtor will begin repaying its debts, first to secured creditors, then to unsecured creditors. The Union will keep each Local updated as this process unfolds. The Union is relying on each Local to keep affected members updated in turn.
II. PROOF OF CLAIM FILING PROCESS
The Bankruptcy Court has established November 13, 2023, as the deadline for filing proofs of claim. Please note that this date is the filing date, that is, the date by which the claim must be received by the clerk in the Delaware Bankruptcy Court. It is not a mailing date. Anyone filing a proof of claim must do so sufficiently in advance of November 13 to ensure its arrival and receipt by the clerk by November 13.
Members are receiving the official bankruptcy form for a proof of claim, sent directly to their last known addresses, by the debtors. Anyone is entitled to fill out this proof of claim form and file it. However, the Union (IBT) will file a comprehensive, “omnibus” proof of claim on behalf of the bargaining unit members, so that all affected members will be included in the claims process. Members can still feel free to file their own proofs of claim if they chose to do so, and no harm will result to a member if two claims are filed on their behalf, one by themselves and one through the Union. A member filing their own claim ensures that the correct information is supplied to the court. The Union will also file an omnibus proof of claim in-part to ensure that the information of all members, even those who do not file their own proof of claim, is supplied to the court. If a member has already filed proof of claim or subsequently files a proof of claim independently, the Union will later reconcile the duplicate claims with the Bankruptcy Court.
Please note that the Debtor (Yellow and its operating companies) has “scheduled” each member's claim, meaning that it acknowledges that it owes money to the members. In doing so, however, we believe the debtor has understated employee claims. That is also why the Union is taking care to file an omnibus proof of claims on behalf of the entire bargaining unit.
The Union (IBT) will file an omnibus proof of claim covering all employees for their (a) vacation pay, (b) sick leave, (c) WARN Act claims, and other contractual amounts that they are owed by the Debtor. The IBT will estimate the vacation pay, sick pay and WARN Act totals for all members, including for amounts that would become due next year under the NMFA. However, we recommend all members to fill out this form (Click Here).
Other recent articles you may be interested in:
9/19/2023 - TEAMSTERS URGE SENATE TO BEGIN BANKRUPTCY REFORM HEARINGS ON YELLOW
8/9/2023- WTWT Sept/Oct Extension of Coverage for Yellow Teamsters
The Western Teamsters Welfare Trust Board of Trustees has taken additional action to extend coverage for Yellow Teamsters for the months of September and October 2023. WTWT coverage for Yellow participants will end on October 31, 2023, at midnight. WTWT has also complied a list of frequently asked questions including self-pay coverage, retiree coverage etc. Please CLICK HERE to read the notice and FAQ.
8/15/2023- Yellow/YRC Employee Verification Info
For anyone who is applying for work with a new company which is requesting to verify years of service at YRC/Yellow. Such employee verification can be done through “Thomas and Company” 615-620-0569, code YRC 382.
8/14/2023-DOT Clearinghouse & 401k Update
8/8/2023- TEAMSTERS CALL ON FEDERAL GOVERNMENT TO REFORM CORPORATE BANKRUPTCY LAWS
8/7/2023- YELLOW FAILS WORKERS ONE MORE TIME