MFN Partners LP, the largest shareholder of Yellow Corp., appealed bankruptcy court-approved pension plan settlements that resolved years-long withdrawal liability disputes.
The hedge fund seeks review of Delaware bankruptcy Judge Craig T. Goldblatt’s April orders authorizing the deals between the fallen trucker and the pension plans, including Central States, Mid-Jersey Trucking Industry, and Teamsters Local 701, according to notices filed Monday.
The deals, worth more than $1 billion, resolve the pension plans’ claims that initially totaled more than $7.4 billion, nearly all of which constituted withdrawal liability. Those claims had been significantly reduced under various court rulings.
The settlements came ...