It is not going to be forced to go the BK route. The lenders wanted to see if YRCW could obtain concessions from Teamsters and YRCW has also thrown in cureent concessions with non union employees. If they file for BK or the banks do not agree or if YRCW is acquired the Teamster concessions get yanked. That will mean YRCW will have to pay them the 15% they have already agreed to and they will have to pay the $130 million they are saving on pensions every qtr. The banks/lenders will also be forced to try and get their money back at a time when the market is depressed and overcapacity exits in LTL Freight.
An amendmenet will be agreed upon next week and it is the shorts that should be worried here.