Nov. 19 at 2:07 AM
$YELLQ
Yellow was pleased with the Tenth Circuit’s decision, said Ron Rossi, a partner at Kasowitz law firm in New York who has been involved with the case, representing Yellow since the beginning.
“Yellow was a great company,” he said in an interview Friday. “Yellow provided good-paying jobs to 30,000 people.”
He said what happened to Yellow “is an absolute American tragedy.”
Yellow’s original complaint was filed in June, just more than a month before filing for Chapter 11 liquidation. If the allegations that the Teamsters “knowingly schemed to destroy Yellow” succeed, Rossi said, “arguably the Teamsters would be responsible for the costs of that bankruptcy.”
That includes the initial claim for
$137 million in damages, tens of millions in administrative costs, pension costs triggered by the bankruptcy, and Yellow’s complete loss in enterprise value, Rossi said.
If all of those costs are found in court to be attributable to breach of conduct, the total could well exceed ...
