Hedge Fund MFN Pushes for Equity Voice in Yellow’s Bankruptcy

A hedge fund that owns a big stake in Yellow is pushing for a larger voice for shareholders in the trucking company’s liquidation because of the unfolding bidding war for its assets. Yellow shut down and filed for bankruptcy earlier this month and is now selling off its assets, which so far have garnered bids high enough to cover its financial debt. If Yellow also pays off its other obligations, any excess value could flow to its shareholders, which include Boston-based hedge-fund manager MFN Partners as well as the U.S. government.